Innovatus Capital Partners Nabs Atlanta Office Property
- Sep 11, 2018
Innovatus Capital Partners has acquired 3400 Overton, a 172,756-square-foot Class A office property in Atlanta, from TPA Group. TPA broke ground on the asset in May 2016, with the building opening its doors in summer 2017, according to Yardi Matrix.
The buyer has chosen Lincoln Property Co. to handle leasing and management for the building. The firm’s Hunter Henritze, Michael Howell and Caroline Fisher will oversee leasing, with Tom Laverty and Shane Froman leading the property management team. CBRE managed the asset under the previous owner.
Earlier this year, Innovatus acquired a 164,000-square-foot office property near Dallas.
Accessible location, green design
Located at 3400 Overton Park Drive S.E. in Atlanta’s Cumberland/Galleria submarket, the seven-story property is situated next to the intersection of interstates 75 and 285, providing access both into and across the city. The property is positioned within one mile of more than 8 million square feet of Class A office space, per Yardi Matrix.
The building, designed to be LEED Certified, is anchored by financial services giant Synovus, which occupies approximately 100,000 square feet. Insurance brokerage McGriff, Seibels & Williams has leased 28,950 square feet, and the property is 80 percent leased.
“The acquisition of 3400 Overton Park Drive is a prime example of Innovatus’ strategy to identify top-caliber Class-A office properties in expanding micro-submarkets with further leasing potential,” said Bradley Seiden, managing director of Innovatus, in a prepared statement. “We look forward to working with quality tenants and are confident that the office building will continue to attract high-end, top-talent companies that are looking to enjoy success in the rapidly growing Cumberland area.”
Image courtesy of Yardi Matrix