{"id":1004164362,"date":"2017-01-17T07:01:18","date_gmt":"2017-01-17T15:01:18","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004164362"},"modified":"2022-12-08T20:55:26","modified_gmt":"2022-12-09T04:55:26","slug":"atlanta-area-office-campus-changes-hands-for-57m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/atlanta-area-office-campus-changes-hands-for-57m\/","title":{"rendered":"Atlanta-Area Office Campus Changes Hands for $57M"},"content":{"rendered":"<p>By Mihaela Coste<\/p>\n<div id=\"attachment_1004164370\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/01\/Milton-Park-Alpharetta.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004164370\" data-attachment-id=\"1004164370\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/atlanta-area-office-campus-changes-hands-for-57m\/milton-park-alpharetta\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/01\/Milton-Park-Alpharetta.jpg\" data-orig-size=\"640,512\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Milton Park, Alpharetta, Ga.\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Milton Park, Alpharetta, Ga.&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/01\/Milton-Park-Alpharetta.jpg?w=640\" class=\"wp-image-1004164370 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/01\/Milton-Park-Alpharetta.jpg\" alt=\"Milton Park, Alpharetta, Ga.\" width=\"300\" height=\"240\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/01\/Milton-Park-Alpharetta.jpg 640w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/01\/Milton-Park-Alpharetta.jpg?resize=300,240 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004164370\" class=\"wp-caption-text\">Milton Park, Alpharetta, Ga.<\/p><\/div>\n<p><strong>Alpharetta, Ga.<\/strong>\u2014Avison Young recently announced that it has represented Adventus Realty Trust in the acquisition of Milton Park, a two-building Class A office campus in Alpharetta.<\/p>\n<p>According to Yardi Matrix data, the property was sold by Talcott Realty Investors for a price tag of $57 million and the sale was subject to a $39.9 million loan held by JPMorgan Chase.<\/p>\n<p>Situated on over 13 acres, Milton Park consists of two six-story, LEED-certified office buildings encompassing roughly 320,000 square feet of space. The Atlanta-area campus features standard ceilings and abundant covered parking\u00a0in an adjacent multi-level parking structure. Amenities include common area Wi-Fi and redundant power.<\/p>\n<p>The property is located in close proximity to North Point Mall and a wide range of dining options, as well as Avalon, <a href=\"https:\/\/www.commercialsearch.com\/news\/alpharettas-mammoth-mixed-use-project-lands-9-retail-tenants\/\" target=\"_blank\" rel=\"noopener\">a high-end mixed-use development<\/a>. The campus offers quick access\u00a0to Sandy Springs, Johns Creek and downtown Atlanta\u00a0through Interstate 285, Route 400 and the MARTA rapid transit services.<\/p>\n<p>Avison Young has been retained for leasing and property management of the multi-tenant property, which was 88 percent leased at the time of the transaction. The tenant roster includes Landis+Gyr, Pegasystems, Convergex and Schneider Electric.<\/p>\n<p>\u201cMilton Park is an attractive option for employers looking for a centrally located office park with a unique walkable live, work, play environment,\u201d said Matt Tritschler, Avison Young principal, in a prepared statement. \u201cNorth Fulton is experiencing some of Atlanta\u2019s strongest leasing fundamentals and the property is in a high-growth, strategic location with a very talented, well-educated workforce nearby.\u201d<\/p>\n<p>\u201cMilton Park marks the third acquisition in suburban Atlanta this year, expanding the geographical diversification significant to the strength of <a href=\"https:\/\/www.commercialsearch.com\/news\/adventus-lands-town-center-office-development\/\" target=\"_blank\" rel=\"noopener\">the Adventus portfolio<\/a>,\u201d said Rod Johnston, president &amp; CEO of Adventus, in prepared remarks. \u201cWith this acquisition, Adventus owns approximately 850,000 square feet in Atlanta, representing 21 percent of the overall Adventus portfolio.\u201d<\/p>\n<p><em>Image courtesy of Yardi Matrix <\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The buildings were 88 percent occupied at the time of the transaction.<\/p>\n","protected":false},"author":1192,"featured_media":1004164370,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1489,21743,21742,21747],"tags":[33509,32913,33022,33510],"class_list":["post-1004164362","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-atlanta","category-deals","category-latest","category-office","tag-adventus-realty-services","tag-alpharetta-submarket","tag-avison-young","tag-talcott-realty-investors"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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