Milton Park includes two, class A office buildings totaling 319,000 square feet. It's the office component of one of suburban Atlanta's first walkable live-work-play, master plan communities. Pope & Land and Talcott/Greenstone developed the mixed-use community. (Pope & Land invested in an empty office building on Milton Parkway in July).

“The Southeast continues to be a focal point for US and foreign investment capital, with Atlanta gaining particular momentum,” says Yowell, vice chairman of CBRE. “Benefitting from positive leasing fundamentals and an expanding economy, Atlanta is again considered one of the most attractive markets for office investment nationally.”

ATLANTA—Milton Park, an Alpharetta, GA office property at the center of North Fulton's evolving business and commercial district, has traded hands. The sale price: $57 million.

“The increasing competition for core assets in primary markets is shifting many investment firms, especially international ones, to consider Atlanta as a market that blends the stability found in the US with the long-term growth prospects of being the largest office market in the Southeast,” Dan Wagner, CBRE Southeast Research Manager, tells GlobeSt.com. “As suburban markets such as Alpharetta continue to draw increasing activity, investors are focusing more on class A developments in suburban office markets as viable alternatives.”

The CBRE institutional office team of Will Yowell, Justin Parsonnet, and Jay O'Meara represented Talcott Realty Investors and Greenstone Properties in the disposition to Adventus Realty Trust. It was the teams' last of nearly $800 million in office transactions in the Atlanta submarket in 2016, trailing only Midtown and Buckhead. This new volume record included Sanctuary Park, a $265 million transaction CBRE brokered that was the largest-ever Alpharetta office transaction.

“Milton Park is a best-of-class, high performing asset offering the additional opportunity to add value to an investment that generates both immediate, dependable cash flow and upside through rent growth and a disciplined leasing program,” says Parsonnet, CBRE executive vice president of Office Investment Properties. “With below market rents in place due to leases that were negotiated prior to the market's rebound, the room to grow cash-flow is evident as the submarket fundamentals continue to tighten and area improvements further solidify its competitive positioning in the market.”

Milton Park includes two, class A office buildings totaling 319,000 square feet. It's the office component of one of suburban Atlanta's first walkable live-work-play, master plan communities. Pope & Land and Talcott/Greenstone developed the mixed-use community. (Pope & Land invested in an empty office building on Milton Parkway in July).

“The Southeast continues to be a focal point for US and foreign investment capital, with Atlanta gaining particular momentum,” says Yowell, vice chairman of CBRE. “Benefitting from positive leasing fundamentals and an expanding economy, Atlanta is again considered one of the most attractive markets for office investment nationally.”