Bryan Larson, a partner and general counsel at Macfarlan, tells GlobeSt.com the firm’s strategy is to acquire quality suburban office and flex assets in secondary markets currently overlooked by institutional investors. These office properties fit squarely into that strategy.

“With a low basis in these assets, a diverse mix of tenants, the anchor leases of AT&T and ITT, and the opportunity to add value through several new leases and renewals at market rates, the acquisition of Atlanta South highlights our strategy and positions us to deliver to investors the attractive double digit current yield they find so unique in this environment,” Larso says.

Meanwhile, Macfarlan sold a single tenant, 407,981-square-foot warehouse and distribution center in Atlanta for $11.3 million. The building is 100% leased for Empire Distributors, a wholesale alcoholic beverage distributors in the Southeast. The building also serves as Empire’s corporate headquarters.