April 2011

Marcus Partners Fund I acquires 188,100 SF Office Park in Atlanta, GA

Marcus Partners is pleased to announce the acquisition of the Corporate Forum in Atlanta, GA. Marcus, together with local partner Ackerman & Co., purchased Corporate Forum for $7.2MM from CW Capital.

This is the second acquisition this year for Marcus and Ackerman, who also bought the Marietta Medical Center in January.

Corporate Forum is a twelve acre complex of six campus style office buildings on Windy Hill road, just off Interstate 75.  The six buildings comprise 188,100 square feet and were originally constructed in 1981.  Occupancy currently is approximately 72%.  Ackerman will handle property management and leasing.  Hunter Amos at State Bank provided acquisition financing.  Justin Parsonnet, Will Yowell and Jay O’Meara of CBRE represented the seller and brokered the transaction.

This deal is indicative of the gradual recovery taking place in the office market as lenders are increasingly willing to address problems, foreclose on properties, and take them to market.

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