A major Atlantacomplex 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, 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.