{"id":1004202541,"date":"2018-01-05T07:59:53","date_gmt":"2018-01-05T15:59:53","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004202541"},"modified":"2022-12-07T15:09:08","modified_gmt":"2022-12-07T23:09:08","slug":"downtown-atlanta-office-asset-commands-50m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/downtown-atlanta-office-asset-commands-50m\/","title":{"rendered":"Downtown Atlanta Office Asset Commands $50M"},"content":{"rendered":"

By Timea Papp<\/p>\n

\"Live<\/a>

Live Oak Square<\/p><\/div>\n

CBRE\u2019s Institutional Properties team has completed the sale of Live Oak Square, a 10-story office building totaling 200,000 square feet of Class A space in Atlanta\u2019s Buckhead submarket. ATPS Realty Partners purchased the asset in a $50.1 million deal from HighBrook, public records show.<\/p>\n

Principal Real Estate Investors provided $42.4 million in acquisition financing to facilitate the deal. The short-term mortgage is set to mature in January 2020. The new ownership is a joint venture between Atlanta-based Anchor Capital and Sage Equities of Israel.<\/p>\n

Recent modernization<\/h2>\n

Located at 3475 Lenox Road NE, Live Oak Square was completed in 1983 and recently underwent a renovation program that included a modernized lobby, upgraded common areas, as well as the rebranding of the property. The improvements helped secure several new tenants including Merchant E-Solutions and MRI Software. The building was 74 percent leased at the time of sale, with 33,000 square feet of contiguous availability on the top two floors.<\/p>\n

The CBRE team of Executive Vice President Justin Parsonnet, Senior Vice President Jay O’Meara, Vice Chairman Will Yowell and Senior Associate Ryan Reethof represented the seller in the transaction.<\/p>\n

\u201cEmphasizing Live Oak Square\u2019s irreplaceable location, nearly $6 million repositioning program, and leveraging CBRE\u2019s global capital reach, we were able to develop deep and diverse investor interest for this offering, including several foreign investment groups,\u201d<\/em> said Parsonnet in a prepared statement.<\/p>\n

Live Oak Square is within walking distance of Buckhead\u2019s dining options, luxury shopping venues and two MARTA rail stations. Surrounded by a live-work-play environment, the location benefits from strong leasing fundamentals<\/a>\u00a0and an evolving tenant base.<\/p>\n

Image courtesy of CBRE<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The CBRE team of Justin Parsonnet, Jay O’Meara, Will Yowell and Ryan Reethof worked on behalf of the seller in the transaction.<\/p>\n","protected":false},"author":240,"featured_media":1004202543,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1489,21743,21825,21783,21742,21747],"tags":[32789,37041,33706,38757],"class_list":["post-1004202541","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-atlanta","category-deals","category-finance","category-investment","category-latest","category-office","tag-cbre","tag-highbrook-investment-management","tag-principal-real-estate-investors","tag-sage-equities"],"acf":[],"yoast_head":"\nDowntown Atlanta Office Asset Commands $50M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/downtown-atlanta-office-asset-commands-50m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Downtown Atlanta Office Asset Commands $50M\" \/>\n<meta property=\"og:description\" content=\"The CBRE team of Justin Parsonnet, Jay O'Meara, Will Yowell and Ryan Reethof worked on behalf of the seller in the transaction.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/downtown-atlanta-office-asset-commands-50m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2018-01-05T15:59:53+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-07T23:09:08+00:00\" \/>\n<meta name=\"author\" content=\"Timea-Erika Papp\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/Live-Oak-Square.jpg\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/downtown-atlanta-office-asset-commands-50m\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/downtown-atlanta-office-asset-commands-50m\\\/\"},\"author\":{\"name\":\"Timea-Erika Papp\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/f58a713dcbdcb5aab2648af2aa04d6ae\"},\"headline\":\"Downtown Atlanta Office Asset Commands $50M\",\"datePublished\":\"2018-01-05T15:59:53+00:00\",\"dateModified\":\"2022-12-07T23:09:08+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/downtown-atlanta-office-asset-commands-50m\\\/\"},\"wordCount\":283,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/downtown-atlanta-office-asset-commands-50m\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2018\\\/01\\\/Live-Oak-Square.jpg\",\"keywords\":[\"CBRE\",\"Highbrook Investment Management\",\"Principal Real Estate Investors\",\"Sage Equities\"],\"articleSection\":[\"Atlanta\",\"Deals\",\"Finance\",\"Investment\",\"News\",\"Office\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/downtown-atlanta-office-asset-commands-50m\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/downtown-atlanta-office-asset-commands-50m\\\/\",\"name\":\"Downtown Atlanta Office Asset Commands $50M - 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