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Atlanta’s OA Development Rakes in $121M for Dual Office Sale
Atlanta, GA-based OA Development has secured $120.5 million through the sale of its six-building office portfolio in NC and its five-story Class A office building in OH.
“Both properties have consistently performed well weathering a variety of external influencers not excluding the unprecedented pandemic shutdown of 2020 as well as the ongoing fluctuation of workplace protocols that we’re all navigating today,” said Brian Granath, partner, OA Development.
The Imperial Center in Raleigh’s Research Triangle Park sold for $94 million. The six properties total 408,572 square feet across three- and four-story buildings on 28 acres and are 93% leased.
OA acquired the portfolio in 2018 for $76.6 million. JLL Capital Markets represented OA in the off-market sales transaction.
The Hawthorne Center in Blue Ash, OH sold for $26.5 million. The building totals 135,413 square feet and is 100% leased. Cushman & Wakefield Cincinnati represented OA in the transaction.
Photo, l-r: Imperial Center, Hawthorne Center
- ◦Sale/Acquisition
