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SVN Equities Pays $61M for 1M SF of Flex Space

NORCROSS, GA-The 19-building portfolio buy follows the Irvine, CA-company's purchase of the 706,000-sf Oakbrook North Business Park here in May 2006.

By Melissa Kress | Updated on July 30, 2007

NORCROSS, GA-Irvine, CA-based SVN Equities Inc. has spent $60.6 million for its second portfolio buy here, this time acquiring 19 buildings in Gwinnett Park. The buildings contain more than one million sf of flex office and industrial space.

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.

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