In a prepared statement, the developers didn't disclose the purchase price or indicate when new phases of the park might begin. But area industrial brokers, in a position to know, tell GlobeSt.com the new owners paid about $30 million, or $57 per sf, for the 11-building, low-rise property which has 800 feet of frontage on the Chattahoochee River and hovers over Interstate 285.

Two prominent restaurants, Ray's On The River and Olive's, are located within the park which is on the Cobb-Fulton county line. Carter was set to take over the leasing and management of the property in mid-June.

Jim Shelton, Carter's executive vice president, says the development team's goal is to "reposition this well-located asset." He adds, "We believe that the combined expertise of the operating partners, coupled with the resources of Morgan Stanley, will make this a very successful development for our tenants and investors."