Triple Net Properties buys Park Central in Atlanta

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Triple Net Properties LLC has acquired Park Central in Atlanta, on behalf of tenant-in-common investors, the company announced. The value of the acquisition, which closed on November 29, was not disclosed. Park Central is a 10-story office building totaling approximately 212,200 square feet in Atlanta. The building was built in 1986 and renovated in 2005 and is approximately 10 miles northeast of Atlanta's central business district. The property provides a 785-space parking garage. At the time of purchase, Park Central was 85 percent occupied by 30 tenants, including Digital Tigers, RLI Insurance and Phoenix Systems. Triple Net Properties purchased Park Central from Transwestern. Triple Net is a wholly-owned subsidiary of NNN Realty Advisors Inc., a nationwide commercial real estate asset management and services firm. ...