An affiliate of Northside Hospital has bought Glenridge Level, a 184,912-square-foot workplace complicated in Sandy Springs, Ga. Richmond Honan Growth & Acquisitions bought the two-building property for $14.2 million, in line with CommercialEdge info.
Colliers Senior Vice President Tom Davenport and Vice President Dany Koe labored on behalf of the receiver, B. Riley Advisory Providers.
The workplace complicated final traded in 2018, when Richmond Honan acquired the asset for $44.5 million in a portfolio transaction from Pope & Land Enterprises, the identical supply exhibits.
Workplace complicated on Capsule Hill
Situated at 100 & 200 Glenridge Level Parkway, the property is on the intersection of Interstate 285 and Georgia Freeway 400. The workplace complicated is close by the Capsule Hill medical hub and a few 14 miles from downtown Atlanta.
Accomplished in 1970 on 3.6 acres, the five-story Glenridge Level incorporates floorplates ranging between 18,417 and 18,771 sq. ft, 4 passenger elevators and a complete of 670 automotive parking areas. The low-rise property underwent renovations between 1999 and 2016. Facilities function outside area with seating space and EV parking spots.
The tenant roster consists of eVestment and Keller Williams Realty First Atlanta, amongst others, in line with CommercialEdge.
Within the final quarter of 2024, workplace gross sales within the U.S. totaled $9.1 billion throughout 365 transactions, overlaying 46.9 million sq. ft. This marks a major decline in comparison with the earlier quarter, with a 37.1 p.c drop in gross sales depend and a 25.3 p.c lower in sq. footage.
Yr-over-year comparisons additionally present a decline in workplace funding exercise, with the final quarter of 2023 ending with $11.2 billion throughout 612 workplace gross sales.
