”The Pointe is an excellent opportunity for our firm to continue to grow our footprint in Atlanta and the Southeast,” Blake Underwood, regional director at Dilweg. “Its value-add profile allows us to participate in healthy market fundamentals at a compelling value and elevate the overall feel and experience at the Property through strategic cosmetic improvements.”

The Pointe is also across the street from the site of a planned future MARTA station as the public transit system seeks to expand northward through the Georgia 400 corridor. The Dilweg Companies' current metro Atlanta portfolio also includes 101 Marietta Street in Downtown, Royal Center II, III, & IV in North Fulton, The Paddocks in Johns Creek, and 250 Ponce in Decatur.

“The Pointe is a bit of a hidden jewel,” says Jay O'Meara, CBRE senior vice president of Office Investment Properties. “With the recent completion of the adjacent Northridge Road/Georgia 400 interchange construction and the proximity to the Central Perimeter and North Fulton. Combined with the asset's quality, The Pointe is extremely well-positioned for a bright future.”

ATLANTA—Dilweg Companies snapped up The Pointe. The reported sale price: $46 million.

The Pointe sits in Central Perimeter's Northridge Road corridor—one of Atlanta's most affluent executive neighborhoods. The 418,000 square-foot, two-building, mid-rise office development is currently 66% occupied.

“Suburban office product proves to be a solid investment choice,” McCall King, CBRE senior research analyst, tells GlobeSt.com. “A recent report from CBRE Econometric Advisors projects continued rent growth for the North American suburban office market through 2018. Submarkets with high-quality amenities, such as Avalon or The Battery, and efficient buildings capable of handling denser employee layouts will likely perform best. The investor attraction is intensified in Atlanta as job and population growth increase.”

The Pointe counts several blue-chip firms including Cisco, Compass Group, and Ecova among its tenants. Dilweg plans to continue the previous owner's recent capital investment, which included lobby renovations and elevator modernizations, by investing approximately $3 million in upgrading building systems, common areas, and tenant amenities.

”The Pointe is an excellent opportunity for our firm to continue to grow our footprint in Atlanta and the Southeast,” Blake Underwood, regional director at Dilweg. “Its value-add profile allows us to participate in healthy market fundamentals at a compelling value and elevate the overall feel and experience at the Property through strategic cosmetic improvements.”

The Pointe is also across the street from the site of a planned future MARTA station as the public transit system seeks to expand northward through the Georgia 400 corridor. The Dilweg Companies' current metro Atlanta portfolio also includes 101 Marietta Street in Downtown, Royal Center II, III, & IV in North Fulton, The Paddocks in Johns Creek, and 250 Ponce in Decatur.

“The Pointe is a bit of a hidden jewel,” says Jay O'Meara, CBRE senior vice president of Office Investment Properties. “With the recent completion of the adjacent Northridge Road/Georgia 400 interchange construction and the proximity to the Central Perimeter and North Fulton. Combined with the asset's quality, The Pointe is extremely well-positioned for a bright future.”