SVN Equities bought the assets from Boston-based General Investment & Development Cos. The purchase comes a little more than a year after SVN Equities acquired the Oakbrook North Business Park in May 2006. That portfolio encompasses 706,000 sf.
The 19 buildings are 77% leased, and the tenant roster includes Liberty Mutual, Progressive Insurance, Krispy Kreme, McBurney Corp. and Corinthian Colleges. The buildings are located at 1750 Beaver Run Rd., inside the 230-acre, 3.5-million-sf Gwinnett Park. The park is off Interstate 85 and seven miles north of Interstate 285.
"The Gwinnett Park buildings are an outstanding addition to our portfolio with their excellent interstate access and proximity to executive housing and the skilled labor pool of northeast Atlanta," says SVN Equities president Burton Young. "The portfolio also features a very solid tenant roster and numerous expansion opportunities for additional buildings."
W. Colin Cavill, Dennis Mitchell and Robert Cottle of the Atlanta office of Colliers Spectrum Cauble represented both the buyer and the seller.
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