Office park brings APG’s portfolio of properties to 3.8 million square feet
Atlanta Property Group (APG), a locally based real estate investment firm, said today it has acquired One Point Royal in the North Fulton submarket of Atlanta.
The 150,000-square-foot building, built in 1996, is strategically located at 4400 North Point Parkway, less than 2 miles from both the Haynes Bridge / GA 400 and Old Milton / GA 400 interchanges. The two-story building features nine-foot ceilings, full height windows, and a generous 4.5 per 1,000-square-foot parking ratio. The property is currently 92 percent leased to 12 tenants.
“We acquired the property at an attractive basis and believe that the significant rental rate discount relative to the surrounding inventory will create a distinct competitive advantage,” said Shep Dinos, a partner with APG. “The asset also allows us to further diversify geographically and offer space in the desirable North Fulton submarket.”
Atlanta Property Group plans to invest more than $300,000 into common area renovations to increase the aesthetic appeal of the building during its first year of ownership. Additionally, APG will invest more than $600,000 on systems upgrades.
“One Point Royal is a good fit for Atlanta Property Group’s portfolio of well-located properties that offer quality office space for value-conscious tenants,” said Austin Chase, director of leasing at APG. “The location provides great access for tenants and is just 1.5 miles from Avalon as well as Northpoint Mall, offering an exceptionally large amenity base in the immediate area.”
Samir Idris of Cushman & Wakefield represented the seller in the transaction.
About Atlanta Property Group
Atlanta Property Group is a real estate investment firm that focuses exclusively on
owning and operating office buildings in the southeast. APG has executed more than $1 billion of principal transactions since being founded in 2003 by partners Jonathan Rodbell and Court Thomas. The firm’s portfolio totals 3.8 million square feet in 18 assets, each offering a great location, functional space and relationship-driven service.
