{"id":1004324159,"date":"2019-05-16T02:29:05","date_gmt":"2019-05-16T10:29:05","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004324159"},"modified":"2019-05-16T04:43:42","modified_gmt":"2019-05-16T12:43:42","slug":"duluth-office-portfolio-is-first-atlanta-foray-for-realop","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/duluth-office-portfolio-is-first-atlanta-foray-for-realop\/","title":{"rendered":"RealOp Enters Atlanta Market With Office Deal"},"content":{"rendered":"
\"\"

Park Creek. Image courtesy of RealOp Investments<\/em><\/p><\/div>\n

RealOp Investments has acquired the Breckinridge Office Portfolio, consisting of three single-story office parks in the Atlanta area, adding 560,000 square feet of Duluth, Ga., office space to its portfolio.<\/p>\n

The three Duluth-based properties in the portfolio were Breckinridge Exchange, located at 3025 Breckinridge Blvd.; Breckinridge Center, located at 3350 Breckinridge Blvd.; and Park Creek, located at 2825 at Breckenridge Blvd. Together, the three parks total a dozen office buildings, all located in close proximity to the I-85 and are part of the Gwinnett County Opportunity Zone which offers tax credits to tenants based on job creation.  <\/p>\n

At the time of the sale, the portfolio was 72 percent leased with a tenant roster that included companies like Primerica, Polytron, UPS and Q-Matic. <\/p>\n

RealOp Investments enters the Atlanta market with this deal and expands its Southeastern footprint with these properties, all located within the northeast submarket and I-85 corridor of Atlanta. Overall, RealOp Investments has properties in five Southeastern states and 10 markets. As with most of the assets it acquires, RealOp has targeted the portfolio for its value-add opportunities and steady in-place income. The company\u2019s plans include upgrading the amenities and exterior, adding on-site food trucks and enhancing signage, landscaping and paved surfaces.<\/p>\n

NAI Brannen Goddard\u2019s Nathan Anderson and David Beak represented the seller in the deal.<\/p>\n

Atlanta Office Stays Hot<\/h2>\n

According to Cushman & Wakefield\u2019s most recent Atlanta office market report, the city\u2019s strong economy coupled with job growth, which in 2018 Q4 saw the addition of 59,800 jobs, up 2.2 percent year-over-year, Atlanta\u2019s office market is doing well.<\/p>\n

The report noted that office-using employment continues to increase in metro Atlanta, though there\u2019s been a trend of large corporate consolidations and office space reductions across the market. Still, overall occupancy has remained stable and more than the historical average since 2016. Atlanta’s inventory of Class A office space has carried the entire market to new highs and offset the relatively flat suburban net absorption resulted from corporate downsizing.<\/p>\n

Last year, RealOp Investments acquired a 223,118-square-foot office portfolio<\/a> in the Raleigh-Durham, N.C., area from Sun Life Assurance Co. of Canada for $30.6 million.<\/p>\n","protected":false},"excerpt":{"rendered":"

The company enters the Atlanta market with the purchase of three single-story office parks in the northeast submarket and Interstate 85 corridor of Duluth.<\/p>\n","protected":false},"author":451,"featured_media":1004324174,"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":[32799,34585,38968],"class_list":["post-1004324159","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-atlanta","category-deals","category-featured","category-investment","category-latest","category-office","tag-cushman-wakefield","tag-nai-brannen-goddard","tag-realop-investments"],"acf":[],"yoast_head":"\nRealOp Enters Atlanta Market With Office Deal - 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\/duluth-office-portfolio-is-first-atlanta-foray-for-realop\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"RealOp Enters Atlanta Market With Office Deal\" \/>\n<meta property=\"og:description\" content=\"The company enters the Atlanta market with the purchase of three single-story office parks in the northeast submarket and Interstate 85 corridor of Duluth.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/duluth-office-portfolio-is-first-atlanta-foray-for-realop\/\" \/>\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=\"2019-05-16T10:29:05+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-05-16T12:43:42+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/Park-Creek-e1558002337366.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1113\" \/>\n\t<meta property=\"og:image:height\" content=\"835\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Keith Loria\" \/>\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\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/duluth-office-portfolio-is-first-atlanta-foray-for-realop\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/duluth-office-portfolio-is-first-atlanta-foray-for-realop\/\",\"name\":\"RealOp Enters Atlanta Market With Office Deal - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/duluth-office-portfolio-is-first-atlanta-foray-for-realop\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/duluth-office-portfolio-is-first-atlanta-foray-for-realop\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/Park-Creek-e1558002337366.jpg\",\"datePublished\":\"2019-05-16T10:29:05+00:00\",\"dateModified\":\"2019-05-16T12:43:42+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/aaa29b723dad85f2444ae3cb0c4d735f\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/duluth-office-portfolio-is-first-atlanta-foray-for-realop\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/duluth-office-portfolio-is-first-atlanta-foray-for-realop\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/duluth-office-portfolio-is-first-atlanta-foray-for-realop\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/Park-Creek-e1558002337366.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/05\/Park-Creek-e1558002337366.jpg\",\"width\":1113,\"height\":835,\"caption\":\"Park Creek. 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