Four-Headed Ownership Group Scores Two Deals At 10 Park Place
The new owners of a historic Downtown Atlanta office building revealed the details that have pushed occupancy to above 90%.
Permits filed with the City of Atlanta show that the consortium of well-known Atlanta CRE names that owns 10 Park Place has secured two tenants.
The 137k SF circa-1929 office building sandwiched between Edgewood Avenue and Marietta Street, just a block from Georgia State University, is owned by Meltzer Properties' Dion Meltzer and Joel & Granot, along with Atlanta CRE investor Jim Cumming and Novare Group's Jim Borders.
As we previously reported here, Meltzer and Joel & Granot were brought in as investors to recast a $9M CMBS loan with Atlantic Bank last year.
Alan Joel (here) said the ownership inked a deal to renew and expand Grady Outpatient Behavioral Health into 45k SF. The partners also signed Fulton County Health & Wellness, which inked a deal for 45k SF to occupy space by March. Prior to these deals — and prior to the refinancing arrangement — 10 Park Place (formerly known as the Thornton Building) was only 40% occupied, according to our previous story.
