Lavista Associates, Inc.

Atlanta Property Group has acquired 3 mid-rise office buildings located in Atlanta's Central Perimeter submarket.  Totaling 284,000 square feet, 41, 47 and 53 Perimeter Center East will collectively be rebranded as “The Park at Perimeter Center East,” highlighting the property's extensive landscaping and quiet setting in the heart of Central Perimeter.  Extensive renovations will commence in July 2010, including upgrades to the lobbies, corridors, restrooms and building systems.

This transaction represents one of the only significant office acquisitions in the Central Perimeter submarket in the past two years.  “The Park at Perimeter Center East is a compelling opportunity for tenants,” commented Court Thomas, a Partner at Atlanta Property Group.  “We have ample capital available for renovations, tenant improvements and leasing commissions, and our basis will allow us to compete aggressively for new tenants.” 

APG has partnered with Lavista Associates, Inc. to lease the five and six-story buildings, which are currently 50% occupied. Austin Chase of Lavista commented, “Atlanta Property Group has differentiated itself as a well-capitalized, hands-on, local owner that will aggressively meet the market to attract new tenants and foster loyal tenant relationships.”

Lincoln Property Company will be responsible for the management of the properties.

For leasing opportunities at The Park at Perimeter Center East, please contact Austin Chase or Kirven Brantley at 770.448.6400.