Crocker Partners Acquires 3225 Cumberland With Garrison Investment Group
ATLANTA, Nov. 7, 2019 /PRNewswire/ -- Crocker Partners announced the acquisition of 3225 Cumberland, a Class A office tower in Atlanta's Cumberland/Galleria submarket, in a joint venture with Garrison Investment Group.
"We are excited to close our first joint venture with Garrison Investment Group and expand our holdings in Atlanta. 3225 Cumberland is a premier asset located in one of the most institutional office submarkets in the southeast. The combination of amenities, location, and tenancy create a compelling investment opportunity," said Chris Eachus, Partner at Crocker Partners.
"We've been an investor in the Cumberland/Galleria market for a number of years and really like the submarket fundamentals. We are glad to have partnered with best-in-class operator, Crocker Partners, on this acquisition," said Long Nguyen, Managing Director at Garrison Investment Group.
The acquisition brings the total square footage Crocker Partners owns or manages in Atlanta to approximately three million. The company owns and/or manages 11 million square feet portfolio wide.
3225 Cumberland is 95 percent leased to 12 tenants. The lobby, fitness center, and café were recently renovated and additional amenities include a conference facility and tenant lounge. Located in Atlanta's thriving Cumberland/Galleria submarket, the property is adjacent to the Cumberland Mall and one mile from The Battery and SunTrust Park, home of the Atlanta Braves.
The Atlanta office of Cushman and Wakefield represented the seller in the transaction.
ABOUT CROCKER PARTNERS
Active in the commercial real estate business for over 35 years, Crocker Partners has established a reputation as a premier owner, operator, and developer of office and mixed-use projects throughout the Southeast and Southwest United States. Since 1993, Crocker Partners has acquired and managed over 150 properties, totaling 44.5 million square feet and representing $5.2 billion invested. They are currently Florida's largest office landlord and rank 39th largest in the United States. Headquartered in Boca Raton, Florida, they have regional offices in Miami, Jacksonville, and Atlanta.
Contact:
Giana Pacinelli, Marketing Director
561-537-4565 | [email protected]
SOURCE Crocker Partners
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