Investor Offloads Dunwoody Office Park for $27M
Grubb Properties sold the 284,000 square foot Park at Perimeter Center East to Network Realty Partners for $27.15 million.
The Atlanta Business Chronicle reports Grubb is moving its Atlanta office from that Dunwoody property to an office it owns at 2400 Lake Park Drive in Smyrna.
Grubb Properties paid $32.65 million for the 19.4-acre site in 2015 and has since tried to redevelop the property, but its plans have never been approved by local officials. Grubb Properties unveiled plans in 2018 for 900 for-sale condos and 500,000 square feet of office space just east of Perimeter Mall and north of Interstate 285, but it never moved forward.
Tenants at Park at Permiter Center East include the Alzheimer’s Association, Assurance Financial, Bedrock Homes, the Consulate General of Argentina and Hanyard Law Office, P.C.
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