Fortress Investment Group Acquires Office In Alpharetta From UPS For $93.2M

This office asset, located at 12380 Morris Road in Alpharetta, GA, was sold for $93.2 million. The property encompasses a total area of 305,000 square feet, translating to a price per square foot of $306.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $93,200,000
• Buyer: Drew McKnight - Fortress Investment Group
• Seller: UPS
• Square Footage: 305,000
• Price per Square Foot: $306

UPS sold the office space to Fortress Investment Group and immediately entered into a sale-leaseback agreement to continue occupying the building. This transaction is part of UPS's strategic shift to close 73 facilities and downsize their workforce by approximately 4%.