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Crown West Acquires Two Office Parks for $38M

ATLANTA-Deerfield Professional Centre in Milton and Peachtree Corners Corporate Centre in Norcross total approximately 330,000 sf.

By Crystal Proenza | Updated on September 18, 2008

ATLANTA-Crown West Realty LLC has acquired a five-building office package for $38.6 million from an entity controlled by Orlando-based Eola Capital. The properties, Deefield Professional Centre in Milton and Peachtree Corners Corporate Center in Norcross, total 333,400 sf. Information about an assumed loan and financing used for the acquisition were not disclosed.

“We are excited to expand our Georgia portfolio with the acquisition of these quality assets,” says Ed Gargiulo, asset management head for Crown West’s eastern division, about the company’s third purchase in the Atlanta area. “The strong job growth and high-quality corporate tenants in these submarkets make modern, well-located properties attractive buys for Crown West. We look forward to making additional acquisitions with the aim of assembling at least one million sf in the Atlanta market.”

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