{"id":1004086114,"date":"2013-10-31T07:13:34","date_gmt":"2013-10-31T15:13:34","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004086114"},"modified":"2022-12-06T01:36:41","modified_gmt":"2022-12-06T09:36:41","slug":"goddard-grabs-440-ksf-class-a-office-building-in-atlanta","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/goddard-grabs-440-ksf-class-a-office-building-in-atlanta\/","title":{"rendered":"Goddard Grabs 440 KSF Class A Office Building in Atlanta"},"content":{"rendered":"<p><em>By Barbra Murray, Contributing Editor<\/em><\/p>\n<p>Overlook III, a 440,000-square-foot office property in Atlanta, is now under the ownership of Goddard Investment Group L.L.C. Acting through the Goddard Value-Add Office Fund I L.P., Goddard purchased the Class A asset, perched atop Mount Wilkinson in Atlanta&#8217;s historic Vinings neighborhood, from a Parmenter Realty Partners fund. Parties involved in the transaction are keeping their lips sealed regarding the acquisition cost.<\/p>\n<p>Overlook III last changed hands at the height of the real estate market in 2007, when Parmenter acquired it for $81.6 million from for Lincoln Property Co., which had purchased the office tower from National Office Partners in 2004 for $56.5 million.<\/p>\n<p>Today, the 21-story tower at 2859 Paces Ferry Rd. in the Northwest submarket is 70 percent occupied. Goddard will renovate and reposition the 27-year-old property and present it anew to the recovering Atlanta office market. The timing may be just right.<\/p>\n<p>&#8220;Due to the narrowing availabilities in Buckhead and Central Perimeter, demand could very well funnel to the companion submarkets of Midtown and\u00a0Northwest, respectively,&#8221; according to a third quarter report by commercial real estate services firm Jones Lang LaSalle.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Acting through the Goddard Value-Add Office Fund I, Goddard purchased the 440,000-square-foot Class A asset, perched atop Mount Wilkinson in Atlanta&#8217;s historic Vinings neighborhood, from a Parmenter Realty Partners fund.<\/p>\n","protected":false},"author":969,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1489,21783,21742,21747],"tags":[],"class_list":["post-1004086114","post","type-post","status-publish","format-standard","hentry","category-atlanta","category-investment","category-latest","category-office"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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