NAIBG Closes on $18 Million in Sale of Two Atlanta Office Projects

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NAIBG Closes on $18 Million in Sale of Two Atlanta Office Projects

ATLANTA, GA – December 14, 2016 – NAI Brannen Goddard is pleased to announce that it represented Alex Brown Realty, a private equity fund, in the sale of two office buildings located in the Atlanta market.

Casey Keitchen, Senior Vice President of Investment Sales at NAI Brannen Goddard, was the only broker involved in the disposition of both assets: Northside Tower located at 6065 Roswell Road in Sandy Springs, GA and Crossing Center located at 1000 Johnson Ferry Road in Marietta, GA. The assets sold in separate off-market transactions to a family office fund, Stein Investment Group.

Crossing Center is a 5-building office complex located in East Cobb County.  The 60,000 SF project was 80% leased at the time of sale and closed for $5 million in July as a part of a 1031 exchange. Northside Tower is a 9-story, 122,000 SF office building located in the heart of Sandy Springs and was 95% leased at the time of sale. The property sold for $13 million and closed in October.