ESRI Pays $18M for Suburban Office

ALPHARETTA, GA-ESRI, a California-based designer and developer of geographic information system (GIS) technology, has purchased the Brookside 100 building in this Atlanta suburb and will place an East Coast office in part of the available space. EnTrust Realty Advisors LLC handled the off-market sale for the Alter Group, the building’s owner and the brokerage’s parent.

EnTrust declined disclosing the sale price, citing a confidentiality agreement between the buyer and seller. However, Databank Inc., an Atlanta-based real estate research firm, cites the price at just above $18 million, or $140 per sf.

James I. Clark III, managing principal of Chicago-based EnTrust, says the transaction was unusual in that ESRI made an unsolicited offer for the five-story, 129,421-sf building at Brookside Concourse along Old Milton Parkway, east of Georgia 400. It’s also refreshing to have a well-capitalized buyer that also sought to occupy the building, he says.