ATLANTA- EnTrust Realty Advisors, LLC, has completed the sale of a 404,000 SF, office portfolio to an affiliate of RexxHall Realty LLC, a New York-based private investment group. The portfolio comprises nine buildings across two major business parks developed by The Alter Group: five single story buildings encompassing 250,000 square feet at the 106-acre Chattahoochee Corners in Duluth, GA; and four buildings containing 154,000 square feet at the45-acre Brookside Concourse in Alpharetta, GA. James I. Clark III, EnTrust’s Managing Principal, announced the transaction.
EnTrust represented the seller, The Alter Group, which will continue to provide property management services to the new owner.
“The portfolio received significant interest from local, regional and national investors,” said Clark. “EnTrust identified RexxHall as an investor looking to enter the Metro Atlanta market which is seeing its lowest vacancy rates since 2009 and absorption at its strongest levels since before the recession, driven largely by the healthcare, IT and homebuilding sectors.”
“These properties provide us with a beachhead in this fast-growing region,” said Daniel Stauber, Managing Director of RexxHall Realty. “Our acquisition criteria targets value-add office space with great potential and these assets certainly meet that standard in terms of the buildings, the landscaping of their environment and the amenities in the surrounding area.”
The award-winning Chattahoochee Corners is located on Peachtree Industrial Boulevard in Gwinnett County (Duluth), GA. The 45-acre Brookside Concourse, situated within the 204-acre, mixed-use Brookside business park, is located at Highway 120 (Old Milton Parkway, formerly State Bridge Road), just east of Georgia 400.
Rexxhall Realty LLC engages in the purchase, development, and management of real estate holdings and owns and operates 6 million square feet of commercial real estate in New York, New Jersey, Connecticut, Florida, Georgia and Pennsylvania. The company is based in New Rochelle, New York.
An affiliate of The Alter Group, EnTrust Realty Advisors, LLC, specializes in the disposition and recapitalization of investment real estate through direct sales, joint ventures and structured financing. It distingAuishes itself by dedicating personal care to providing fiduciary quality commercial real estate investment services from the simplest to the most complex transaction. Information at www.entrustrealty.net.