News
GIVE ME PARK AVENUE . . . FOR $15M
June 7, 2011
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| DC-based Perseus Realty Partners JV?d with Ferncroft Capital of Charlotte to buy the 92k SF Park Avenue building in SouthEnd for $15M (about $163/SF) from an affiliate of real estate investment firm The Lionstone Group. The office and retail building is at South Blvd between East Park and Rensselaer Avenues. Anchor tenants include CBS Radio, Carrabba?s Italian Grill, and the Aveda Institute. PRP?s Maeve Brown tells us the property is a ?strong acquisition,? since it has remained stable through the slump and is now about 95% occupied. It also is close to SouthEnd attractions and eateries, as well as the light rail line and the ever-popular Dilworth neighborhood.No brokers were involved in the sale. |
