Atlanta-Area Office Park Changes Hands

OA Development and Buligo Capital Partners have acquired Century Springs Office Park, a two-building, 192,247-square-foot office property in Atlanta’s Central Perimeter submarket of Sandy Springs, Ga. The Ardent Cos. sold the campus for $21.8 million.

The office park is comprised of Century Springs West, a 96,512-square-foot building at 6030 Lake Forrest Drive NW, and Century Springs East, a 95,739-square-foot building at 6100 Lake Forrest Drive NW.

Both five-story buildings received cosmetic renovations in 2014. Century Springs West was completed in 1983 and Century Springs East delivered in 1984.

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Ardent, an Atlanta-based commercial real estate firm focused on opportunistic and diversified investments, paid $11.9 million to acquire the two buildings in a November 2013 foreclosure transaction, according to Yardi Matrix. Both assets sold for roughly $5.9 million each.

Newmark arranged the sale, with Capital Markets Vice Chairmen Jay O’Meara and Justin Parsonnet and Senior Managing Director Ryan Reethof representing Ardent.

Century Springs key location

Josh Videlefsky, partner at OA Development, an Atlanta-based commercial real estate firm that invests in office and logistics assets, said in prepared remarks that OA was attracted to Century Springs because of its diverse rent roll and location in Atlanta’s Central Perimeter submarket.

The firm’s post-COVID-19 strategy includes purchasing well-located office assets believed to be undervalued. With more than 12 acres between the two building lots, the site offers long-term options for future development.

The office park has a diverse base of local businesses, medical tenants and service firms, according to Newmark. With an increasing number of Central Perimeter office properties being redeveloped for other uses, the fundamentals for infill assets like Century Springs continue to strengthen.

Over the past decade, the buildings have maintained average occupancy above 90 percent. Tenants at Century Springs West include Highland Capital Brokerage, Behavioral Institute of Atlanta, Edward Jones, Benedict Financial Advisors and Manning & Nozick Insurance. Tenants at Century Springs East include Sandy Springs Pediatrics and Adolescent Medicine, Sandy Springs Dental, Atlanta Center for Wellness, Chapman Hall Realtors and Hoffman & Associates.

Century Springs may also benefit from the completion of the neighboring Hillcrest mixed-use development, an 8.1-acre community in Sandy Springs being developed by Trammell Crow Co.’s High Street Residential division and Third & Urban. It will have 362 luxury apartments, 30 townhomes, more than 19,000 square feet of retail and a central green space plaza.

The office park is within walking distance of City Springs, a 14-acre, mixed-use downtown civic and cultural hub in Sandy Springs, Parkside Shops and other amenities. It also has access to Buckhead, Chastain Park and East Cobb, with connectivity to Interstate 285 and Georgia Route 400.

OA’s growing office portfolio

Century Springs marks OA’s fourth recent office acquisition, bringing its portfolio to more than 2 million square feet. In February, OA acquired a portfolio of three office buildings totaling 357,251 square feet in Richmond, Va., for $42.3 million from Highwoods Properties. Newmark also assisted in that transaction.

The mid-rise assets, completed between 1989 and 2001, are located at 8730 Stony Point Parkway, 9020 Stony Point Parkway and 9030 Stony Point Parkway. The portfolio was 92 percent leased at the time of the sale to medical technology and financial firms.

OA purchased 100 City View, an 11-story, Class A office building in Atlanta, in August 2025 for $50.4 million from Granite Properties. The building, located two miles from The Battery in Cumberland-Galleria, is anchored by Murata Electronics, which had recently committed to a long-term lease at the property. Since COVID-19, the building has retained more than 85 percent of the tenancy and executed more than 200,000 square feet of leases.