OA Development Acquires Office Property In Atlanta From Granite Properties For $50.4M

The office asset located at 3330 Cumberland Boulevard Southeast in Atlanta, GA was sold for $50,400,000. The property, known as the 100 City View office tower, encompasses 254,000 square feet and operates within a market characterized by significant commercial activity. The sale price reflects a per square foot price of $198.43, and the property is currently 91% leased, with Murata Electronics serving as the anchor tenant.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $50,400,000
• Buyer: OA Development
• Seller: Granite Properties
• Broker: Cushman & Wakefield
• Loan Amount: $32,500,000
• Square Footage: 254,000
• Price per Square Foot: $198.43
• Leasing Status: 91% leased
• Anchor Tenant: Murata Electronics
• Market: Atlanta, GA

OA Development completed the acquisition of the property from Granite Properties, with the transaction being facilitated by Cushman & Wakefield. This deal reflects the ongoing interest in office spaces within the Atlanta market, showcasing a strategic investment made through a substantial financing arrangement.