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Calpers Sells 11 Acres for $4.5M to Local Investors

ATLANTA-A developer consortium of Wayne Mason, Marty Kennedy, Ed deGuardiola and George Lane paid the California Public Employees Retirement System $409,091 per acre for the tract adjacent to the Overlook III office tower in suburban Vinings, GA.

By Alex Finkelstein | Updated on December 26, 2002

ATLANTA-Another new office tower or residential high-rise could be in the works with the acquisition by a local investor group of 11 prime acres adjacent to the Overlook III office complex in suburban Vinings, GA, area brokers tell GlobeSt.com.

A developer consortium comprised of Wayne Mason, Marty Kennedy, Ed deGuardiola and George Lane paid the California Public Employees Retirement System of Sacramento, CA $4.5 million or $409,091 per acre ($9.39 per sf) for the land on Mount Wilkinson Parkway.

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