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Atlanta & Southeast  + Atlanta  + Office  | 
KDC has acquired two Atlanta, GA Park Center office buildings in sale-leaseback deal with State Farm.

KDC Buys Park Square Office Buildings from State Farm in Sale-Leaseback Deal

Dallas, TX-based KDC has acquired two Atlanta, GA office buildings totaling 1,054,108 square feet in a sale-leaseback deal with State Farm. The assets are located within the 17-acre, master-planned Park Center business complex, of which KDC is the original developer.

Phillip Askew, Ronald Reese and Charlie Robinson of Northmarq arranged the financing.

The acquisition includes Park Center Buildings 2 and 3, which are leased by State Farm, along with 39,152 square feet of retail space. A parking structure with 4,223 spaces and a 2.56-acre parcel for future development are also included in the acquisition.

Park Center Building 1 was completed in 2016 and contains 620,000 square feet. Park Center 2 is a 621,000-square-foot office tower with 39,000 square feet of retail space that was completed in 2020. Park Center Building 3 is a 440,000-square-foot office tower that was completed in 2021.

The Class A buildings are adjacent to the Dunwoody MARTA station.

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About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.

  • ◦Sale/Acquisition