Colliers International Atlanta negotiated the purchase of two single-tenant properties in Atlanta’s Buckhead submarket for $23 million. The 27,000-square-foot restaurant building on Peachtree Road is leased to Maggiano's Little Italy, and the 3,796-square-foot, free-standing bank building is leased to Wells Fargo.
Al Azadi, principal of Level 33 Capital LLC, said, “These purchases represent two long-term income-producing investments in commercial real estate in Buckhead, and we look forward to further investments of this type in Atlanta.”
Level 33 Capital was represented by Colliers International’s Rick Vaughn. Kevin Hermetz, Jimmy Stevens, Sean Patrick and Stephen Lapierre of Ackerman & Co. represented the seller.
“The single-tenant retail market in Buckhead has been tight as of late with only a few transactions taking place this year. Among the properties sold, financial institutions are procuring some of the highest price-per-square-foot values for single-tenant assets in Atlanta. These investments remain some of the most highly desirable transactions in the city,” says Scott Amoson, Director of Research at Colliers International in Atlanta.
About Colliers International Group Inc.
Colliers International Group Inc. (NASDAQ: CIGI) (TSX: CIGI) is top tier global real estate services and investment management company operating in 69 countries with a workforce of more than 13,000 professionals. Colliers is the fastest-growing publicly listed global real estate services and investment management company, with 2017 corporate revenues of $2.3 billion ($2.7 billion including affiliates). With an enterprising culture and significant employee ownership and control, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide, and through its investment management services platform, has more than $20 billion of assets under management from the world’s most respected institutional real estate investors.
Colliers professionals think differently, share great ideas and offer thoughtful and innovative advice to accelerate the success of its clients. Colliers has been ranked among the top 100 global outsourcing firms by the International Association of Outsourcing Professionals for 13 consecutive years, more than any other real estate services firm. Colliers is ranked the number one property manager in the world by Commercial Property Executive for two years in a row.
Colliers is led by an experienced leadership team with significant equity ownership and a proven record of delivering more than 20% annualized returns for shareholders, over more than 20 years.
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