RealOp Investments, a Greenville, South Carolina-based commercial real estate investment firm, closed out 2019 with the acquisition of Parkwood Plaza at 1300 Parkwood Circle SE for $19.65 million, with plans to overhaul the property this year.
Parkwood was RealOp’s third Atlanta acquisition in 2019 but the first in the Cumberland and Cobb Galleria corridor.
RealOp will invest more than $4 million in capital improvements and renovations including a new lounge/café, conference and training facilities, fitness center, modernized restrooms, cosmetic lobby updates, modernized elevators, and an outdoor patio.
The five-story, Class A office building built in 1989 totals 216,600 square feet and is walking distance from The Battery Atlanta.
“We are very excited to complete this transformative renovation over the next year and ultimately reintroduce a first-class property to our future tenants,” Chip Hunt, RealOp’s vice president of leasing, said in a press statement.
The building is an ideal fit for large corporate users with a strong parking ratio, highway access, building signage, and contemporary window lines with views of the Stadium, Hunt said.
RealOp has engaged Foundry Commercial as its in-market leasing partner.
1 Response
This complex is definitely a rip off. LOOKS CAN BE DECEIVING! Ive lived here going on a year tomorrow and man let me just say its definitely been an emotional rollercoaster. From the RUSH of the quick move in to BUGS, broken water heaters, broken window seals, and more! All of these instances happened within 2 months of each other. Bugs were immediate upon move in, come to find out PEST CONTROL were actually attracting more bugs rather than getting rid of it. Their Maintenance team as NO IDEA what they are doing and every time they have to reach out to a third party vendor, they all say the same thing. they DO NOT UNDERSTAND the importance of proper living conditions. The LEASING TEAM has no since of urgency or remorse and its inhumane. ALOT OF BROKEN PROMISES. Oh yeah and their favorite line is, let me double check and give you a call back. Which brings us to inflation…. $400 rent increase for our front gate still not working( we’ve had car break ins, apartment break ins), NO POOL ACCESS (over a year and its 98 degrees daily), Emergency Maintenance ( lol forget about it, might as well wait until “normal business hours.” Just a complete disaster. If you are going to spend $1400 on rent PLEASE PLEASE PLEASE keep looking! you will find better for your money.NEW MANAGEMENT ISNT ANY BETTER! Nothing has been done! BROKEN/FAILED PROMISES