Class A Atlanta-Area Office Property Sells for $11M
- Nov 26, 2019
Georgia’s Fulton County has purchased a 109,000-square-foot, Class A office building in Alpharetta, Ga., for $11 million. NAI Brannen Goddard’s Managing Director Jim Devaney and Vice President Collin Devaney arranged the sale on behalf of the seller, Pinnacle Cos.
Constructed in 1998, the two-story asset sits on nearly 24 acres and includes 54,000-square-foot floor plates. It is located at 4700 N. Point Parkway and is situated within Royal 400 Business Park, roughly 25 miles north of central Atlanta. The property is near the intersection of Route 400 and Old Milton Parkway and roughly 3 miles from Alpharetta City Hall. It also provides easy access to public transportation via the principal Atlanta metro operator, MARTA.
The surrounding area offers several retail and dining options, including Alpharetta Commons Shopping Center, North Point Mall and North Point Village Shopping Center, all of which are within a 10-minute drive.
The 75,305-square-foot 4800 North Point office building, which is located next to the asset sold by Pinnacle Cos., also recently traded. Virtua Partners paid $13 million to Alvarez & Marsal Capital Real Estate in a 1031 transaction for the four-story property.