Crossgate Partners Sells Northchase Office Park in Marietta, GA
ATLANTA – May 2019 – Atlanta-based private real estate investment and development firm Crossgate Partners has sold 60,000 SF Class-A Office building at 1130 Northchase Parkway in Marietta, GA’s Northchase Office Park for $4,750,000. They previously sold the neighboring 100,000 SF building at 1090 Northchase Parkway for $9,000,000 in February 2016.
Conveniently located near Interstate 75 in northwest metro Atlanta, Northchase Office Park offers a possible home for a wide variety of companies. Crossgate Partners acquired two buildings in the expansive business complex through a distressed note acquisition, where the non-performing assets were in foreclosure.
Crossgate Partners pursued a value-add strategy with the property by upgrading the atrium lobbies, installing card key 24/7 access security systems, and refurbishing the landscapes and picnic areas. Since the property is located in the popular I-75 corridor, there are numerous surrounding restaurants, hotels, banks and more. The two building portfolio was purchased in September 2011 for $7,700,000
Crossgate Partners, LLC continues to successfully manage the two properties in Northchase Office Park.
About Crossgate Partners
Founded in the early 2000s, Crossgate Partners, LLC is a private real estate investment and development firm that finances a wide spectrum of real estate assets, primarily in the Southeast United States. Crossgate Partners invests, manages, and develops a diverse group of real estate assets, including office, retail, multifamily, healthcare, and mixed-use properties.
About Transwestern
The Transwestern enterprise together comprises a diversified real estate operating, investment management and development organization. The privately held, fully integrated enterprise leverages competencies in office, industrial, retail, multifamily and healthcare to add value for investors, owners and occupiers of real estate.