The three-story office building, 1544 Old Alabama Rd., was built in 1999 and totals 70,000 sf. Built in 2005, the adjacent 900 Holcomb Woods Pkwy. contains two floors with 20,000 rentable sf. They are 100% net leased to MR Default Processing, an offshoot of law firm McCalla, Raymer, Padrick, Cobb, Nichols & Clark LLC, which handles foreclosure processing on residential real estate. The firm has 15 years remaining on its lease.

1544 Old Alabama Rd.

The buyer was attracted to acquiring it because of the strength of the tenant and lease in place. "The tenant has benefited from the recent downturn in the residential market," Karson says. "Its balance sheet is very strong."

Another factor in the acquisition was the strength of the Roswell submarket. Located 10 miles north of Atlanta, Roswell is an upscale community that has been experiencing growth, declining vacancy rates and rising rental rates in recent years. "It's one of the most attractive submarkets of Atlanta," Karson says. "It's an area where brick value is likely to go higher."

The property carries assumable, 10-year financing with a structured amortization that sweeps all free cash flow, creating a zero cash flow structure. "Having in-place debt financing is a big benefit in today's market," says Cushman & Wakefield Sonnenblick Goldman director Kate Pelet, in a prepared statement. "The financing here, which we arranged, was a very attractive feature for this buyer."