Hines and GE Buy Second Office Asset

ATLANTA-Ashford Perimeter, a high-profile, 288,000-sf, 89%-leased office building with 48,000-sf floor plates in the Central Perimeter submarket, is under new ownership today.

Area brokers in a position to know tell GlobeSt.com the Hines Suburban Office Venture of Houston and Stamford, CT-based GE Real Estate paid Glenborough Realty Trust Inc. of San Mateo, CA an estimated $51 million, or about $180 per sf, for the 20-year-old, six-story, class A asset at Ashford Dunwood Road and Interstate 285.

Hines and GE declined to disclose the purchase price. “We do not talk about purchase or sale prices,” Hines media coordinator George Lancaster tells GlobeSt.com.