Dallas-based Granite Properties, along with its locally based joint-venture partner Pope & Land Enterprises, has sold three buildings at Cumberland Office Park in Atlanta, Ga.
The total value of the transactions was approximately $17 million.
The Home Depot purchased the properties.
The buildings, 2600, 2690 and 2580 Cumberland Parkway, are located less than a mile from Home Depot’s corporate headquarters in the Vinings submarket and total 198,400 square feet.
Home Depot leased approximately 98,000 square feet at 2690 and 2580 Cumberland Parkway in the fourth quarter of 2004 with options to acquire the two buildings as well as 2600 Cumberland Parkway. 2600 Cumberland Parkway totals 33,100 square feet; 2690 Cumberland Parkway totals 91,800 square feet; and 2580 Cumberland Parkway totals 73,500 square feet.
CB Richard Ellis represented The Home Depot in each of the transactions.
Granite and Pope & Land acquired the 644,000-square-foot office park from Prentiss Properties Trust in July 2003 for $40 million, according to a press statement.
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