{"id":1004330933,"date":"2019-06-14T07:01:22","date_gmt":"2019-06-14T15:01:22","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004330933"},"modified":"2021-05-10T02:07:07","modified_gmt":"2021-05-10T10:07:07","slug":"atlanta-office-property-trades-for-120m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/atlanta-office-property-trades-for-120m\/","title":{"rendered":"Atlanta Office Property Trades for $120M"},"content":{"rendered":"
\"\"<\/a>

Paces West. Image courtesy of CBRE<\/em><\/p><\/div>\n

After recently selling a portfolio for $71.1 million in Denver<\/a>, Investcorp has sold the 646,471-square-foot Paces West office asset in Atlanta. Farallon Capital Management and Crocker Partners acquired the former headquarters of The Home Depot for $120 million, according to the Atlanta Business Chronicle<\/em><\/a>. The new owners intend to invest in renovations for the property\u2019s common-areas and amenities.<\/p>\n

Located at Paces Ferry Road S.E. in the metro\u2019s Cumberland\/Galleria submarket, the asset is close to both residential communities and hotels, while being 11 miles north of Downtown Atlanta and roughly 20 miles from Hartsfield-Jackson International Airport. The property comprises two 18-story towers connected by a pedestrian bridge and includes 4,000 square feet of retail space. The tenant roster includes the local office of Piedmont Healthcare, OM Partners and the coworking company Regus. At the time of sale, Paces West was 93.9 percent leased, per Yardi Matrix data.   <\/p>\n

Executive Vice Presidents Jay O\u2019Meara and Justin Parsonnet, together with Vice Chairman Will Yowell and Senior Associate Ryan Reethof from CBRE worked on behalf of the seller. Senior Vice President Jonathan Rice and Vice President C.J. Kelly from the company\u2019s debt & structured finance department arranged for acquisition loan.<\/p>\n","protected":false},"excerpt":{"rendered":"

Farallon Capital Management and Crocker Partners intend to invest in renovations of the common areas and amenities at the 646,471-square-foot former headquarters of The Home Depot.<\/p>\n","protected":false},"author":748,"featured_media":1004330936,"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":[32789,33742,44072,37000,32882,40719],"class_list":["post-1004330933","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-atlanta","category-deals","category-investment","category-latest","category-office","tag-cbre","tag-crocker-partners-llc","tag-farallon-capital","tag-home-depot","tag-investcorp","tag-jay-omeara"],"acf":[],"yoast_head":"\nAtlanta Office Property Trades for $120M - 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\/atlanta-office-property-trades-for-120m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Atlanta Office Property Trades for $120M\" \/>\n<meta property=\"og:description\" content=\"Farallon Capital Management and Crocker Partners intend to invest in renovations of the common areas and amenities at the 646,471-square-foot former headquarters of The Home Depot.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/atlanta-office-property-trades-for-120m\/\" \/>\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=\"2019-06-14T15:01:22+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-05-10T10:07:07+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/06\/PacesWest_Drone-e1560518238460.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"3019\" \/>\n\t<meta property=\"og:image:height\" content=\"2261\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Lucia Morosanu\" \/>\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\/atlanta-office-property-trades-for-120m\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/atlanta-office-property-trades-for-120m\/\",\"name\":\"Atlanta Office Property Trades for $120M - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/atlanta-office-property-trades-for-120m\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/atlanta-office-property-trades-for-120m\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/06\/PacesWest_Drone-e1560518238460.jpg\",\"datePublished\":\"2019-06-14T15:01:22+00:00\",\"dateModified\":\"2021-05-10T10:07:07+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/1077c2cf363c47bc75d1ab4c42b53bb5\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/atlanta-office-property-trades-for-120m\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/atlanta-office-property-trades-for-120m\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/atlanta-office-property-trades-for-120m\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/06\/PacesWest_Drone-e1560518238460.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/06\/PacesWest_Drone-e1560518238460.jpg\",\"width\":3019,\"height\":2261,\"caption\":\"Paces West. 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