A joint venture has sold Northmeadow Business Park in Roswell, Ga., for $93.5 million.
BPG Properties Ltd. acquired the 20-building office and flex park north of Atlanta, totaling 1.2 million square feet, from FirstCal Industrial 2, a joint venture between First Industrial Realty Trust Inc. and California State Teachers Retirement System (CalSTRS).
Infrastructure improvements are planned to improve existing access while also accommodating future expansion due to the area’s growing commercial and residential development, according to a press statement.
The buildings within the park were 83 percent occupied at the time of sale and were constructed in phases from 1997 to 2000.
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