Itay Goren Of Buligo Capital And Steve Berman Of OA Development Acquire Office Park For $20.75M

The transaction involves the sale of a two-building office complex located at 6000 & 6100 Lake Forrest Drive Northeast in Sandy Springs, Georgia. The asset, encompassing a total of 192,000 square feet, was acquired for a price of $20,750,000. The property is reported to be over 90% occupied, indicating a strong demand for office space in the area.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $20,750,000
• Square Footage: 192,000
• Address: 6000 & 6100 Lake Forrest Drive Northeast
• Market: Sandy Springs, GA
• Buyer: Itay Goren - Buligo Capital; Steve Berman - OA Development
• Seller: Matt Shulman - Ardent Companies
• Brokers: Jay O’Meara, Justin Parsonnet & Ryan Reethof - Newmark
• Price Per Square Foot: $108

OA Development and Buligo Capital Partners have taken a strategic position by acquiring this office park, which offers potential for rent growth and future densification due to its proximity to the City Springs and Hillcrest developments. The involvement of key players in this transaction underscores the ongoing interest in suburban office assets.