Glenfield Capital is pleased to announce the acquisition of Chastain Center, a prominent office park located in Kennesaw, GA, one of Atlanta’s top-performing submarkets. The portfolio comprises six buildings with 303,000 square feet and is currently 86% leased. Glenfield purchased the properties for $46,100,000 with financing provided by Delta Community Credit Union.
With high-credit stable income and long term leases, Chastain Center exemplifies Glenfield’s strategic move toward rebalancing their portfolio in favor of more stabilized assets. Additionally, the property has been improved with open-space, modern improvements that include the best improved interiors in the Northwest suburbs. Tenants within the portfolio include Aaron’s Inc., Dover Corporation and GSA.
Chastain Center is a collection of six single‐story office buildings located northwest of Atlanta, in the supply-constrained submarket of Kennesaw. The development is strategically positioned between I‐75 and I‐575, providing superior access to the site and the area’s high‐end neighborhoods and executive communities.
“Glenfield owned single-story, high-ceiling product in Kennesaw, which we sold in 2018, so we are excited to be back. We know the area and believe in the fundamentals of Kennesaw’s market.”
This acquisition brings Glenfield’s total investment volume in 2019 to $100 million. Glenfield expects to remain very active through the next year and is looking in both primary and secondary markets in the Southeast to acquire an additional $200 million of office assets in 2020.
ABOUT GLENFIELD CAPITAL
Glenfield Capital is a private real estate investment company based in Atlanta, Georgia. Its principals have decades of real estate investment experience, including more than $1 billion in advisory and principal activities. Glenfield’s current portfolio includes over 900,000 square feet in the southeastern United States. The company evaluates numerous investment opportunities throughout the Southeast on an ongoing basis, including office and industrial opportunities. For more information, please visit www.glenfieldcapital.com.