{"id":1004209396,"date":"2018-03-07T03:13:42","date_gmt":"2018-03-07T11:13:42","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004209396"},"modified":"2022-12-08T19:03:26","modified_gmt":"2022-12-09T03:03:26","slug":"dilweg-picks-up-midtown-atlanta-office-asset","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/dilweg-picks-up-midtown-atlanta-office-asset\/","title":{"rendered":"Dilweg Picks Up Midtown Atlanta Office Asset"},"content":{"rendered":"

By Timea Papp<\/p>\n

\"Pershing<\/a>

Pershing Point Plaza<\/p><\/div>\n

The Dilweg Cos. has completed the purchase of Pershing Point Plaza, a 409,579-square-foot, Class A office building in Midtown Atlanta. CBRE\u2019s Capital Markets team represented seller CBRE Global Investors in the transaction.<\/p>\n

Located at 1375 Peachtree St. NE, the seven-story property was built in 1960 and is LEED Silver certified. The new owner plans to invest more than $10 million into an extensive\u00a0renovation program<\/a>. The modernization project will\u00a0improve the building\u2019s exterior, mechanical systems, common areas and tenant amenities.<\/p>\n

Notable tenancy<\/h2>\n

Pershing Point was 59 percent leased at the time of sale and is anchored by long-term tenants Kaiser Permanente\u2019s healthcare IT division\u2014156,000 square feet\u2014and advertising firm HUGE\u201431,000 square feet. The tenant roster consists of mostly technology, advertising, media and information systems companies such as Echo Global and CMGRP.<\/p>\n

The CBRE Capital Markets team that worked on behalf of the seller in the disposition of Pershing Point was made up of Vice Chairman Will Yowell, Executive Vice President Justin Parsonnet, Senior Vice President Jay O\u2019Meara and Senior Associate Ryan Reethof. The Dilweg Cos. retained CBRE\u2019s team of Senior Vice President Chris Port and Associate Nicole Goldsmith to spearhead leasing efforts at the property.<\/p>\n

\u201cCBRE leveraged its platform of veteran on-site management and leasing expertise and active capital market knowledge to articulate Pershing Point\u2019s unique investment opportunity. This generated strong investor demand and market depth,\u201d<\/em> Yowell said in prepared remarks.<\/p>\n

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

The new owner revealed plans to invest more than $10 million in the repositioning of the seven-story Pershing Point, which is anchored by Kaiser Permanente and HUGE.<\/p>\n","protected":false},"author":240,"featured_media":1004209398,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1489,21743,21783,21742,21747],"tags":[32789,35954,32779,34946],"class_list":["post-1004209396","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-atlanta","category-deals","category-investment","category-latest","category-office","tag-cbre","tag-kaiser-permanente","tag-leed","tag-the-dilweg-companies"],"acf":[],"yoast_head":"\nDilweg Picks Up Midtown Atlanta Office Asset - 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\/dilweg-picks-up-midtown-atlanta-office-asset\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dilweg Picks Up Midtown Atlanta Office Asset\" \/>\n<meta property=\"og:description\" content=\"The new owner revealed plans to invest more than $10 million in the repositioning of the seven-story Pershing Point, which is anchored by Kaiser Permanente and HUGE.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/dilweg-picks-up-midtown-atlanta-office-asset\/\" \/>\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=\"2018-03-07T11:13:42+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T03:03:26+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\/03\/Pershing-Point-Plaza.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\\\/dilweg-picks-up-midtown-atlanta-office-asset\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/dilweg-picks-up-midtown-atlanta-office-asset\\\/\"},\"author\":{\"name\":\"Timea-Erika Papp\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/f58a713dcbdcb5aab2648af2aa04d6ae\"},\"headline\":\"Dilweg Picks Up Midtown Atlanta Office Asset\",\"datePublished\":\"2018-03-07T11:13:42+00:00\",\"dateModified\":\"2022-12-09T03:03:26+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/dilweg-picks-up-midtown-atlanta-office-asset\\\/\"},\"wordCount\":257,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/dilweg-picks-up-midtown-atlanta-office-asset\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2018\\\/03\\\/Pershing-Point-Plaza.jpg\",\"keywords\":[\"CBRE\",\"Kaiser Permanente\",\"LEED\",\"The Dilweg Companies\"],\"articleSection\":[\"Atlanta\",\"Deals\",\"Investment\",\"News\",\"Office\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/dilweg-picks-up-midtown-atlanta-office-asset\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/dilweg-picks-up-midtown-atlanta-office-asset\\\/\",\"name\":\"Dilweg Picks Up Midtown Atlanta Office Asset - 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