The Greenville properties were acquired for $38.5 million. Contributed photo
A privately held Atlanta-based real estate investment company has acquired a 560,000-square-foot suburban office portfolio currently known as Park East and Park Central from Terra Capital Partners LLC at a price of $38.5 million.
Shelby Dodson and Tripp Sellers of CBRE arranged the sale and represented the buyer, TWO, in the transaction. Charles Gouch, Blaine Hart, and Shelby Dodson, all of CBRE, will continue leasing the assets.
The sale closed Nov. 17.
“The portfolio’s assets are well-located with good fundamentals,” Dodson said. “The offering presented a buyer with an opportunity to capitalize on Greenville’s leasing activity, lack of new product and forecast growth.”
TWO will reintroduce Park East and Park Central to the market as Park 37 and Harbinger, respectively.