News
BIG BUY IN CUMBERLAND
April 13, 2011
| First a Marietta MOB and now a Cumberland office park. A partnership of Ackerman & Co and Marcus Partners has purchased Corporate Forum, the six-building office park near I-75 and Windy Hill, for $7.2M from CW Capital. | |||
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| CBRE's team of Jay O'Meara, Justin Parsonnet, and Will Yowellbrokered the sale of the 13-acre, 188K SF complex with Hunter Amos at State Bank providing the acquisition financing. The property (which Ackerman will now manage and lease) is more than 70% leased. This is the second building that the Ackerman/Marcus partnership has purchased. In January, the two companies bought Marietta Medical Center. | |||
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| Here's Kyle O'Connor at his Marcus Partners office in Boston. We spoke with him about real estate and Atlanta and found his comments to be both surprising and encouraging. ?We think it's one of the most interesting markets in the Southeast,? he says, especially taking into account the Fortune 500 presence, the airport, and cost of living. ?Atlanta, to put it simply, is a town that works.? Marcus Partners bought Corporate Forum through its $250M value-add fund, which is still seeking more CRE assets along the East Coast. We think Atlanta probably offers more value than many, many markets today.? | |||
