1/9/2008

CBRE finalizes sale of Atlanta's Gwinnett Center

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Cobalt Capital Partners has acquired the 1,500-acre Gwinnett Progress Center in the Atlanta suburb of Lawrenceville, Ga., from Huntsville, Ala.-based Triad Properties.

Chris Riley, Frank Fallon and Brian Budnick of CB Richard Ellis represented Triad Properties in the transaction.

The 298,000 square foot industrial center contains two buildings, Gwinnett Progress Center 100 and 200. Both were completed in 2006 and are located on Progress Center Avenue. The 100 facility contains 152,100 square feet and is 33 percent occupied while the 200 location contains 146,800 square feet and is 100 percent leased.

Riley joined CBRE in 2005 and is now an executive VP. His former employers include Trammell Crow Company for nine years and Carter Real Estate for eight. He earned a bachelor's from the University of Kentucky and a M.B.A. from Emory University.

Fallon specializes in the acquisition and disposition of office and industrial properties in the Southeast and Southwestern United States. He also was employed by Trammell Crow Company and was a senior VP with ProLogis. Fallon earned his bachelor's from Texas Tech University.

Budnick, an associate with the Investment Properties group, joined Fallon and Budnick in 2003. He specializes in the disposition of Atlanta-area investment properties. Like Riley, he is a former employee of Trammell Crow and a graduate of Emory University.

Earlier this year, Riley, Fallon and Budnick brokered the sale of the three-building Perimeter West in Atlanta and the $23.55 million sale of the Riverview Distribution Center, also in Atlanta.

Address: 100 and 200 Progress Center Ave., Lawrenceville, Ga.

Size: 298,000 square feet

Built: 2006

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Filed Under: Industrial

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