Crocker Buys Lakeside Office Park
As we first told you here, Crocker Partners has officially purchased Lakeside Office Park, the 400k SF mid-rise office park on 26 acres in Sandy Springs at 5775 Glenridge Dr. The sale was brokered in a partnership between Lincoln Property Co's Tony Bartlett and Chip Sipple as well as CBRE's Jay O'Meara, Will Yowell (here) and Ryan Reethof (all of whom represented MetLife in its sale).
While the purchase price was not disclosed, sources previously told us Crocker would pick up the campus for some $40M, a far cry from MetLife's purchase of $62.2M in 2007. At a time when Central Perimeter has re-emerged as Corporate America's darling, Crocker has the option to potentially redevelop the property as well: after lengthy legal wranglings, the property was rezoned to a mixed-use designation that could accommodate up to 700k SF of office, 520 multifamily units and 8k SF of retail.
