Bridge Office Sells 460 KSF Metro Atlanta Complex
ByThree years after acquiring Parkway Center in Marietta, Ga., Bridge Office Fund Manager LLC has sold the 460,000-square-foot, Class A office complex. The Simpson Group is the new owner of the suburban Atlanta asset.
Parkway Center comprises One and Two Parkway, which carry the respective addresses of 1850 and 1800 Parkway in metro Atlanta’s Northwest submarket. The two 12-story towers were developed three years apart, with the second building reaching completion in 1988. Bridge Office had a vision for the property, and achieved it. Parkway Center was 54 percent leased when Bridge Office purchased it from Atlanta Parkway Investment Group Inc. in 2014, and the company wasted precious little time commencing a repositioning program. It was a successful undertaking; today One Parkway Center has a vacancy rate of 4.1 percent, with Two Parkway Center at 0.8 percent, according to Yardi Matrix data…
