Northlake Office Park
3330 Northlake Parkway Atlanta, Georgia
Building Area: 722,507 sf
Located in the Northlake submarket of Atlanta, GA just inside the I-285 beltway, Northlake Office Park comprises 722,507 SF of Class B office space. The Park consists of 11 buildings on 45.8 acres that are leased to major tenants including BellSouth, the Department of Homeland Security, Lanier Worldwide and SAIC. Northlake is one of Atlanta’s best leased submarkets with continually improving market conditions.
Pitcairn acquired the property in October 2006 with only 52% of the park occupied. Historically the project has been over 90% leased until significant corporate departures in 2004 and 2005 left the property with its present amount of vacancy. Northlake provides Pitcairn with a tremendous opportunity to create value through the re-development and leasing of the park to its historical levels.
Pitcairn’s partner in the transaction is GE Real Estate, whom we collaborated with in June of 2005 to acquire River Center Drive II. The acquisition of Northlake will provide an opportunity to further strengthen our relationship with GE Real Estate and expand our presence along the East Coast.