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Crocker Partners acquires 270,000-sq.-ft. office space on Atlanta Perimeter

Crocker Partners has announced the acquisition of 5600 Glenridge, a 270,000 square foot office building located in Atlanta’s Central Perimeter submarket, in a joint-venture with Siguler Guff.  The asset was purchased before year-end from AT&T, who has owned and occupied the property since the early-1990s. The acquisition brings Crocker’s total portfolio in Atlanta to over three million feet and marks its third acquisition in Atlanta in 2019. 

“5600 Glenridge presents a rare opportunity to acquire a well-located, empty office building in a premier submarket. We are very excited to complete our transformative renovation over the next 12 months and ultimately deliver a best-in-class property to our future tenants,” said Chris Eachus, partner at Crocker Partners.

5600 Glenridge Drive is well located and offers easy access to I-285, GA-400, and the Medical Center MARTA rail station. It is walking distance to multiple dining and retail options. With nearly 28.5 million square feet of office space, Central Perimeter is Atlanta’s largest office submarket and home to one of the largest medical communities in the nation, featuring three of the region’s top hospitals.

Crocker Partners plans to invest more than $25 million in the coming years to extensively renovate every aspect of the property including new lobbies, façade features, landscaping, restrooms, lighting, signage, and market-leading indoor and outdoor amenities.  Prospective tenants will have the opportunity for building-top signage visible from I-285 and floors plates of up to 40,000 square feet. More than 120,000 square feet of space is immediately available for occupancy while AT&T will vacate the remainder of the building in early 2021.