Glenfield Capital, an Atlanta-based real estate investment company, today announced the acquisition of 5 office buildings, for $37.5 million. The 5 office properties are located in the Atlanta suburbs of Peachtree Corners and Johns Creek.
An all-star team has been assembled to lease and manage the properties including JLL, Lincoln Properties and CBRE. JLL has been retained to lease the Peachtree Corners buildings and Lincoln Properties will lease the Johns Creek building. CBRE will provide property management services.
The office buildings are currently 73% leased to over 25 companies including Sprint, Prosys, Toshiba, tw telecom, Anheuser-Busch, Innotrac and Capstone Logistics. Glenfield’s purchase comes at an advantageous time as the Atlanta economy and office market are beginning to improve.
Located in the suburban Atlanta communities of Peachtree Corners and Johns Creek, Georgia, the assets consist of 5 multi-story office buildings containing 390,392 square feet with excellent access to both highly qualified labor force and major interstates, including: Interstates 75, 575, and U.S. 41.
“We are excited to add to our existing office portfolio in Peachtree Corners as well as enter the Johns Creek market,” said James P. Cate, Managing Principal of Glenfield Capital. “The variety of office assets we now own in the Peachtree Corners market gives us the ability to offer multiple price points in an improving market.”
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.