Glenfield Capital, an Atlanta-based real estate investment company, today announced the acquisition of Barrett Park Drive, a Kennesaw office property, for $9 million. Bank of North Georgia provided debt for the property located in Cobb County, a northern suburb of Atlanta.
The office buildings are 100% leased to two international companies: Alorica and KNAPP Logistics Automation. Hewlett Packard was the original tenant and occupied these buildings for 10 years. Located in the suburban Atlanta community of Kennesaw, Georgia, Barrett Park Drive, are two (2) single-story office buildings containing 151,665 square feet with excellent access to major interstates, including: Interstates 75, 575, and U.S. 41.
“We continue to pursue investment opportunities in strategic markets such as Kennesaw,” said James P. Cate, Managing Principal, Glenfield Capital. “This particular property had an 18-year history of being 92 percent occupied. Our analysis also indicates that Barrett Park and Kennesaw are performing extremely well and are further along in the recovery than other suburban markets.”
Headquartered in Irvine, Calif., Alorica is a leading provider of customer management outsourcing solutions spanning the entire customer lifecycle. Knapp Logistics Automation is a world market leader among suppliers of intralogistic, all-in-one solutions, and automated warehouse systems.
Glenfield Capital is a private real estate investment company. Its principals have experience with real estate valued in excess of $1 billion in advisory and principal activities. Glenfield Capital is seeking additional office, flex and industrial acquisitions throughout the Southeast to add to its portfolio.