Torrance, CA – November 5, 2013 – (RealEstateRama) — Lee & Associates, one of the largest commercial real estate firms in the country, has negotiated a $45 million purchase of a three-building, 709,603-square-foot office building portfolio located at 900, 1000 and 1100 Circle 75 Parkway, in Atlanta, Ga. Mark Hollan, executive vice president of Lee’s Atlanta office, represented the buyer Scott & Associates, Inc. The sale, by B.F. Saul Company, represents its last office asset in the Atlanta market.
“Scott & Associates already has a strong foothold in the Southeast market and this sale expands the firm’s presence in the Atlanta market,” said Hollan, noting that the property is 75 percent occupied and is the third major transaction he has completed for Scott & Associates.
Scott & Associates, Inc., which was founded in 1985, is a developmental firm specializing in midrise office and medical office projects in the Southeastern U.S. The firm sees this purchase as a value-added investment with tremendous upside with the opportunity to upgrade and modernize the asset. SK Commercial Realty will lease and manage the assets.
About Lee & Associates
Celebrating more than 34 years of leadership excellence in commercial real estate, Lee & Associates is the largest broker-owned firm in the nation, with 49 locations across the nation including California, Arizona, Florida, Georgia, Idaho, Illinois, Indiana, Kansas, Maryland, Michigan, Missouri, Nevada, New Jersey, New York, South Carolina, Texas, and Wisconsin that house more than 750 brokers, Lee & Associates provides a wide range of specialized commercial real estate services. Additional information is available at www.lee-associates.com.