Michael Holmes Of Parmenter Realty Partners And Paul Moore Of Wellings Capital Acquire Office Building In Decatur For $18.6M

The office asset located at 160 Clairemont Avenue in Decatur, GA, was sold for $18.6 million. The property spans 125,000 square feet and is currently 78% occupied. The building is predominantly anchored by Delta Community Credit Union and offers approximately 26,000 square feet of available space for lease.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $18,600,000
• Square Footage: 125,000
• Price Per Square Foot: $149
• Buyer: Michael Holmes - Parmenter Realty Partners; Paul Moore - Wellings Capital
• Seller: Robert Gray - TerraCap Management
• Broker: OnPace Partners

Parmenter Realty Partners and Wellings Capital were the buyers in this transaction, acquiring the property from an affiliate of TerraCap Management. Avison Young is responsible for managing leasing efforts for the property while OnPace Partners served as the investment sales broker during the transaction.