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125K-SF Decatur Office Complex Trades for $18.6M
Parmenter Realty Partners and Wellings Capital bought a six-story office building at 160 Clairemont Ave., which is a few blocks north of Decatur Square.
The Atlanta Business Chronicle reports the joint venture paid $18.6 million to TerraCap Management. Acquisition financing was provided by Delta Community Credit Union, which serves as the building’s anchor tenant.
Currently 78% occupied, 160 Clairemont offers about 26,000 square feet of available space, including a 13,933-square-foot contiguous opportunity.
The building as a whole spans roughly 125,000 square feet. Parmenter previously owned the property from 2011 to 2015. It plans to enhance the building’s amenities after completing extensive renovations when it was the owner more than a decade ago.
An Avison Young team led by Chris Godfrey and Monica Speak will oversee leasing and marketing efforts on behalf of ownership. OnPace Partners was the investment sales broker.
- ◦Sale/Acquisition
