Provident Realty Advisors Acquires Mixed-Use Asset From JDM Partners For $40.2 Million

A mixed-use property located at 3000 Marconi Drive in Alpharetta, GA, has been sold for $40,200,000. The building comprises 260,000 square feet, translating to a price per square foot of approximately $155. Constructed in 1995, the asset spans 37 acres and is currently leased by State Farm for its printing and imaging operations.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $40,200,000
• Sale Price per Square Foot: $154.62
• Square Footage: 260,000 SF
• Address: 3000 Marconi Drive
• Market: Alpharetta, GA
• Buyer: Provident Realty Advisors
• Seller: JDM Partners
• Previous Sale Price by Seller: $38.24 million
• Year Built: 1995
• Land Size: 37 acres
• Current Tenant: State Farm

This transaction involved Provident Realty Advisors as the buyer and JDM Partners as the seller. JDM Partners acquired the property in 2015. The deal was facilitated under the representation of the respective entities involved in the transaction.