Lincoln Property Co. expands in Atlanta

Lincoln Property Co. acquired the 437,000-square-foot Overlook III office building in Atlanta's Northwest/Vinings submarket.

The value of the transaction was $56.5 million.

Lincoln acquired the 23-story, class A building from Hines' National Office Partners fund on behalf of a pension fund client.

Overlook III is home to The Vinings Club, a full-service health club and restaurant, as well an office supply store, florist, newsstand, conference facilities and other retail amenities.

At the time of sale, Overlook III was 66 percent occupied with 140,000 square feet available for lease.

Dallas-based Lincoln Property Co. is a diversified commercial estate company.

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