The Sanctuary Park complex has historically outperformed other similar office product in the submarket. Delta Dental Insurance, Coca-Cola, Ernst & Young, Ciena Corporation, and LeasePlan are among the notable tenants.

Will Yowell, Justin Parsonnet, and Jay O'Meara of CBRE marketed the property and the joint venture worked closely with Patterson Advisory Group to arrange the acquisition financing. JLL's team of Jeff Bellamy and Adam Viente will continue in their role heading up the leasing team.

The Sanctuary Park offers a secure and private park-like setting, unique to the North Fulton market and includes combined surface and structured parking of 4.3 spaces per 1,000 square-feet. Seven out of the nine existing buildings are LEED and Energy Star certified.

The office property offers tenants fast access to Georgia 400 via Haynes Bridge or Mansell Road along Westside Parkway. Onsite amenities include three conference centers, one modern training room, two full-service cafes, two state-of-the-art fitness centers, a manicured softball field and pavilion, two gated part entrances, complimentary shuttle service to and from the North Springs MARTA station and secured building access.

ATLANTA—Sanctuary Park, a 1.6 million-square-foot office park complex in the North Fulton submarket of Atlanta, has traded hands. The sale price: $265 million.

Rubenstein Partners acquired the office asset. Considered the premier class A office park in Atlanta's high-growth North Fulton submarket, Sanctuary Park has been institutionally owned, developed and maintained for nearly 20 years. There are nine mid-rise office buildings within a 152-acre, master-planned environment, along with three zoned development sites that could accommodate another 750,000 sf of build-to-suit office space.

Currently 96% leased, the anticipated near term departure of Verizon Wireless will lower occupancy to approximately 75%. Rubenstein views the large block vacancy left from Verizon's departure as a unique opportunity to capture the growing tenant demand for office space in the area.

“Sanctuary Park is exactly the kind of unique value-add opportunity Rubenstein Partners seeks out,” says Rubenstein's Taylor Smith. “We believe Verizon's departure created an opportunity for the joint venture to acquire an asset with a strong historical performance as well as control the best large block of available class A space in a submarket that is lacking in the same. We anticipate our planned enhancements to the property will help solidify Sanctuary Park's standing as the preeminent destination for tenants in North Fulton.”

The Sanctuary Park complex has historically outperformed other similar office product in the submarket. Delta Dental Insurance, Coca-Cola, Ernst & Young, Ciena Corporation, and LeasePlan are among the notable tenants.

Will Yowell, Justin Parsonnet, and Jay O'Meara of CBRE marketed the property and the joint venture worked closely with Patterson Advisory Group to arrange the acquisition financing. JLL's team of Jeff Bellamy and Adam Viente will continue in their role heading up the leasing team.

The Sanctuary Park offers a secure and private park-like setting, unique to the North Fulton market and includes combined surface and structured parking of 4.3 spaces per 1,000 square-feet. Seven out of the nine existing buildings are LEED and Energy Star certified.

The office property offers tenants fast access to Georgia 400 via Haynes Bridge or Mansell Road along Westside Parkway. Onsite amenities include three conference centers, one modern training room, two full-service cafes, two state-of-the-art fitness centers, a manicured softball field and pavilion, two gated part entrances, complimentary shuttle service to and from the North Springs MARTA station and secured building access.