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GlobeSt.com EXCLUSIVE: IBM Office Campus Sold for Record Price

ATLANTA-In the largest metro area sale of its kind this year, locally based Jamestown Management pays a Munich, Germany entrepreneur $131 million, or $151.49 per sf, for the two-building, 864,700-sf asset in the northwest Atlanta submarket.

By Alex Finkelstein | Updated on December 08, 2003

ATLANTA-Jamestown Management, a locally based real estate syndicator dealing exclusively with German investors, is the new owner today of the two-building, fully occupied, 864,700-sf IBM office campus in the northwest Atlanta submarket.

Jamestown is paying a Munich entrepreneur,$131 million, or $151.49 per sf, for the 11-story, 25-year-old, 424,700-sf Lakeside building and the nine-story, 15-year-old, 440,000-sf Hillside building. Both structures are at 4111 Northside Parkway, along with a four-story, 907-space parking garage.

Through his New York representative, the seller asked not to be identified. The seller purchased the IBM property three years ago through Oakwood Commerce Partners from Rreef of San Francisco for $120 million, or $138.77 per sf.

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