A major Atlanta office complex has traded for $131 million, making it Atlanta’s biggest office sale of the year. Jamestown Management, a German property syndicator, bought the 864,700 sq. ft. property. The seller was a publicity-shy German billionaire, according to Jamestown’s agent Marcus & Millichap.
"The property, 4111 Northside Parkway, was never formally on the market, but when we got wind of the opportunity, Jamestown immediately came to mind as the best qualified buyer," says Ted Kokernak, a senior agent at Marcus & Millichap.
IBM occupies the entire office complex, which consists of two buildings and a multi-level garage. The property was acquired in January 2000 for $120 million, according to Marcus & Millichap.