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Dilweg Cos. Snags Seven Building Atlanta Office Park
The Dilweg Cos. has acquired Northridge Commons, a seven-building office park in Atlanta’s Central Perimeter submarket. The sales price was not disclosed.
Northridge Commons is currently 68% leased to 38 tenants. The office park also includes the first creative office conversion in Atlanta’s Perimeter submarket. Since the conversion of the first building in 2017, more than 240,000 square feet of leasing has been secured, including nearly 110,000 square feet of new tenant commitments.
Justin Parsonnet, Ryan Reethof, Jay O’Meara and Will Yowell of CBRE represented the seller in the transaction, Stockbridge, on behalf of the firm’s Value Fund II, a closed-end value-added investment vehicle.
“We continue to buy into Southeastern fundamentals, the overall Atlanta story, and the role creative office will continue to play in select urban and suburban locations throughout the city,” said Anthony Dilweg, CEO of The Dilweg Cos. “Our plans for Northridge Commons are to invest upwards of an additional $10 million to further create an ethos that we believe tenants will find highly attractive and compelling.”
For comments, questions or concerns, please contact David Cohen
- ◦Sale/Acquisition
