{"id":1004203823,"date":"2018-01-16T04:18:59","date_gmt":"2018-01-16T12:18:59","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004203823"},"modified":"2022-12-08T11:23:01","modified_gmt":"2022-12-08T19:23:01","slug":"dra-advisors-sells-metro-atlanta-office-park","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/dra-advisors-sells-metro-atlanta-office-park\/","title":{"rendered":"DRA Advisors Sells Metro Atlanta Office Park"},"content":{"rendered":"

By Scott Baltic, Contributing Editor <\/em><\/p>\n

\"University<\/a>

University Office Park in Chamblee, Ga.<\/p><\/div>\n

University Office Park, a 78-acre property with 21 mid- and low-rise office buildings in Chamblee, Ga., has changed hands. DRA Advisors sold the asset to an unidentified Atlanta-based investment group, CBRE announced. The transaction\u2019s value was not disclosed.<\/p>\n

CBRE both arranged the sale on behalf of DRA and will retain leasing and management responsibilities for the office park. CBRE\u2019s Justin Parsonnet, Will Yowell, Jay O\u2019Meara and Ryan Reethof represented DRA Advisors.<\/p>\n

The park is in DeKalb County and along metro Atlanta\u2019s I-85 corridor, near the intersection with Chamblee Tucker Road and close to DeKalb-Peachtree Airport. University Office Park offers significant frontage and signage opportunities along I-85, as well as proximity to intown residential neighborhoods.<\/p>\n

DRA Advisors had owned the park for more than a decade and recently signed IT services firm WiPro Ltd. to the tenant roster. The property is anchored by the Centers for Disease Control & Prevention, the Federal Emergency Management Agency and the Internal Revenue Service.<\/p>\n

CBRE noted that Atlanta\u2019s Northeast corridor has seen significant redevelopment in the last few years, including the Integral Group\u2019s transformation of the former General Motors plant into the Assembly, Emory University\u2019s and Children\u2019s Healthcare\u2019s redevelopment of the eastern portion of the I-85\/North Druid Hills interchange into a regional medical center anchored by a new $1.3 billion hospital.<\/p>\n

\u201cThis is an area that is undergoing considerable redevelopment activity while maintaining the presence of such long-term stakeholders as the Centers for Disease Control, IRS and Department of Defense. It\u2019s a growth corridor and host to Atlanta\u2019s next wave of major redevelopment, as more traditionally defined neighborhoods and office submarkets are becoming denser<\/em>,\u201d CBRE Executive Vice President Justin Parsonnet said in a prepared statement.<\/p>\n

A market holding steady\u00a0<\/h2>\n

The Atlanta office market<\/a> in the third quarter was \u201cuninspiring,<\/em>\u201d with little net absorption (despite a substantial number of moves) and only one significant delivery, according to a report by Colliers International. The overall vacancy remains at 13.9 percent, not far from the figure in 2008.<\/p>\n

The Northlake submarket is broadly within that situation, having seen a modest amount of negative net absorption in the third quarter on an inventory of 17.3 million square feet. Average occupancy there was 86.3 percent.<\/p>\n

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

CBRE brokered the transaction and will retain leasing and management of the 1.2 million-square-foot asset, which includes 21 mid- and low-rise buildings along the I-85 corridor in Chamblee, Ga.<\/p>\n","protected":false},"author":882,"featured_media":1004203836,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1489,21743,21808,21783,21742,21747],"tags":[32789,32763,33919],"class_list":["post-1004203823","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-atlanta","category-deals","category-featured","category-investment","category-latest","category-office","tag-cbre","tag-colliers-international","tag-dra-advisors-llc"],"acf":[],"yoast_head":"\nDRA Advisors Sells Metro Atlanta Office Park - 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\/dra-advisors-sells-metro-atlanta-office-park\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"DRA Advisors Sells Metro Atlanta Office Park\" \/>\n<meta property=\"og:description\" content=\"CBRE brokered the transaction and will retain leasing and management of the 1.2 million-square-foot asset, which includes 21 mid- and low-rise buildings along the I-85 corridor in Chamblee, Ga.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/dra-advisors-sells-metro-atlanta-office-park\/\" \/>\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=\"2018-01-16T12:18:59+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T19:23:01+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/University-Office-Park-in-Chamblee-Ga..jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Scott Baltic\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\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\\\/dra-advisors-sells-metro-atlanta-office-park\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/dra-advisors-sells-metro-atlanta-office-park\\\/\"},\"author\":{\"name\":\"Scott Baltic\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/61ac1450f3ffaa0e850b834c28526555\"},\"headline\":\"DRA Advisors Sells Metro Atlanta Office Park\",\"datePublished\":\"2018-01-16T12:18:59+00:00\",\"dateModified\":\"2022-12-08T19:23:01+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/dra-advisors-sells-metro-atlanta-office-park\\\/\"},\"wordCount\":400,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/dra-advisors-sells-metro-atlanta-office-park\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2018\\\/01\\\/University-Office-Park-in-Chamblee-Ga..jpg\",\"keywords\":[\"CBRE\",\"Colliers International\",\"DRA Advisors LLC\"],\"articleSection\":[\"Atlanta\",\"Deals\",\"Featured\",\"Investment\",\"News\",\"Office\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/dra-advisors-sells-metro-atlanta-office-park\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/dra-advisors-sells-metro-atlanta-office-park\\\/\",\"name\":\"DRA Advisors Sells Metro Atlanta Office Park - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/dra-advisors-sells-metro-atlanta-office-park\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/dra-advisors-sells-metro-atlanta-office-park\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2018\\\/01\\\/University-Office-Park-in-Chamblee-Ga..jpg\",\"datePublished\":\"2018-01-16T12:18:59+00:00\",\"dateModified\":\"2022-12-08T19:23:01+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/61ac1450f3ffaa0e850b834c28526555\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/dra-advisors-sells-metro-atlanta-office-park\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/dra-advisors-sells-metro-atlanta-office-park\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/dra-advisors-sells-metro-atlanta-office-park\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2018\\\/01\\\/University-Office-Park-in-Chamblee-Ga..jpg\",\"contentUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2018\\\/01\\\/University-Office-Park-in-Chamblee-Ga..jpg\",\"width\":800,\"height\":620,\"caption\":\"University Office Park in Chamblee, Ga.\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/dra-advisors-sells-metro-atlanta-office-park\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"DRA Advisors Sells Metro Atlanta Office Park\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/61ac1450f3ffaa0e850b834c28526555\",\"name\":\"Scott Baltic\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2022\\\/06\\\/Scott.jpg?w=96\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2022\\\/06\\\/Scott.jpg?w=96\",\"contentUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2022\\\/06\\\/Scott.jpg?w=96\",\"caption\":\"Scott Baltic\"},\"description\":\"Scott Baltic has been a contributing editor with Commercial Property Executive since 2011 and also wrote for its predecessor, Commercial Property News. He started writing about CRE in 1988 for a group of Chicago-based publications and in 1989 became the editor of Midwest Real Estate News. After moving on from there in 1991, Baltic continued writing occasionally about real estate, for publications like the Chicago Sun-Times, National Real Estate Investor, Urban Land, Shopping Center World and Architect\u2019s Newspaper. He earned a master\u2019s in journalism from Northwestern University\u2019s Medill School of Journalism and has a bachelor\u2019s from North Park University.\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/author\\\/scott-baltic\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"DRA Advisors Sells Metro Atlanta Office Park - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/dra-advisors-sells-metro-atlanta-office-park\/","og_locale":"en_US","og_type":"article","og_title":"DRA Advisors Sells Metro Atlanta Office Park","og_description":"CBRE brokered the transaction and will retain leasing and management of the 1.2 million-square-foot asset, which includes 21 mid- and low-rise buildings along the I-85 corridor in Chamblee, Ga.","og_url":"https:\/\/www.commercialsearch.com\/news\/dra-advisors-sells-metro-atlanta-office-park\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2018-01-16T12:18:59+00:00","article_modified_time":"2022-12-08T19:23:01+00:00","og_image":[{"width":800,"height":620,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/University-Office-Park-in-Chamblee-Ga..jpg","type":"image\/jpeg"}],"author":"Scott Baltic","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.commercialsearch.com\/news\/dra-advisors-sells-metro-atlanta-office-park\/#article","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/dra-advisors-sells-metro-atlanta-office-park\/"},"author":{"name":"Scott Baltic","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/61ac1450f3ffaa0e850b834c28526555"},"headline":"DRA Advisors Sells Metro Atlanta Office Park","datePublished":"2018-01-16T12:18:59+00:00","dateModified":"2022-12-08T19:23:01+00:00","mainEntityOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/dra-advisors-sells-metro-atlanta-office-park\/"},"wordCount":400,"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/dra-advisors-sells-metro-atlanta-office-park\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/University-Office-Park-in-Chamblee-Ga..jpg","keywords":["CBRE","Colliers International","DRA Advisors LLC"],"articleSection":["Atlanta","Deals","Featured","Investment","News","Office"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/dra-advisors-sells-metro-atlanta-office-park\/","url":"https:\/\/www.commercialsearch.com\/news\/dra-advisors-sells-metro-atlanta-office-park\/","name":"DRA Advisors Sells Metro Atlanta Office Park - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/dra-advisors-sells-metro-atlanta-office-park\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/dra-advisors-sells-metro-atlanta-office-park\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/University-Office-Park-in-Chamblee-Ga..jpg","datePublished":"2018-01-16T12:18:59+00:00","dateModified":"2022-12-08T19:23:01+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/61ac1450f3ffaa0e850b834c28526555"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/dra-advisors-sells-metro-atlanta-office-park\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/dra-advisors-sells-metro-atlanta-office-park\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/dra-advisors-sells-metro-atlanta-office-park\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/University-Office-Park-in-Chamblee-Ga..jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/University-Office-Park-in-Chamblee-Ga..jpg","width":800,"height":620,"caption":"University Office Park in Chamblee, Ga."},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/dra-advisors-sells-metro-atlanta-office-park\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"DRA Advisors Sells Metro Atlanta Office Park"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/61ac1450f3ffaa0e850b834c28526555","name":"Scott Baltic","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/06\/Scott.jpg?w=96","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/06\/Scott.jpg?w=96","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/06\/Scott.jpg?w=96","caption":"Scott Baltic"},"description":"Scott Baltic has been a contributing editor with Commercial Property Executive since 2011 and also wrote for its predecessor, Commercial Property News. He started writing about CRE in 1988 for a group of Chicago-based publications and in 1989 became the editor of Midwest Real Estate News. After moving on from there in 1991, Baltic continued writing occasionally about real estate, for publications like the Chicago Sun-Times, National Real Estate Investor, Urban Land, Shopping Center World and Architect\u2019s Newspaper. He earned a master\u2019s in journalism from Northwestern University\u2019s Medill School of Journalism and has a bachelor\u2019s from North Park University.","url":"https:\/\/www.commercialsearch.com\/news\/author\/scott-baltic\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/University-Office-Park-in-Chamblee-Ga..jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004203823","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/882"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004203823"}],"version-history":[{"count":2,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004203823\/revisions"}],"predecessor-version":[{"id":1004203895,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004203823\/revisions\/1004203895"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004203836"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004203823"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004203823"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004203823"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}