A venture led by SG Property Services has purchased Peachtree Palisades, a roughly 133,000-square-foot building. Located at 1819 Peachtree Road, the transaction was for $30 million. Also part of the venture is also Holder Properties, the firm that purchased the building for $23.2 million in 2019 and has retained an ownership stake in the venture.

Based in Atlanta, SG Property Services was founded in 2010 and specializes in health care and medical outpatient real estate across the Southeast. This purchase is the outfit’s fifth medical real estate acquisition of the year.

Built in 1965, the seven-story property is at the boundary of the Midtown and Buckhead submarkets. That places the mid-century building close to Piedmont Hospital, as well as within proximity of The Shepherd Center.

The sale price is an increase of approximately 29% from its previous price tag in 2019. That increase bucks the national trend of sale prices that have dipped in recent years for office space. In Atlanta, office space has been sold at prices that are below the national average.

Through August of this year, around $876 million of office space traded in the market at an average of $158 per square foot, which puts it easily below the national average of $205 during the same period. At roughly $226 per square foot, this Peachtree Palisades sale is well above both figures.

Holder Properties acquired the property in 2019 from ELV Associates, which had owned it for nearly 20 years. Holder went on to renovate common areas and amenities at the address before converting approximately 50,000 square feet to dedicated medical office space. At the time of the most recent sale, the building was roughly 75% leased. Tenants include medical practices such as Old Fourth Ward Pediatrics and Atlanta Plastic Surgery.