ALPHARETTA, GA—G&C Mansell Investors LLC, an affiliate of Florida-based real estate investment group Grover Corlew, purchased five office buildings in Mansell Court at Mansell Overlook in Alpharetta for $12.25 million. The portfolio originally was sold in 2007 for $22 million. Currently at 77% leased, the three single-story and two two-story low rise office buildings are located at 10 and 20 Mansell Court East and 30, 50 and 70 Mansell Court. The five buildings sit on 14.8 acres of land and offer 188,478 square feet of office space including parking for 760 vehicles. Under the new ownership, the original 1987 brick office buildings will immediately undergo $1 million in significant renovations including new exterior enhancements.
“These buildings are within the burgeoning North Fulton submarket of Atlanta which is a prime upscale residential community and the strongest suburban office market just outside the city center,” says Partner Anuj Grover, whose group focuses on acquiring, developing and operating office, retail and multifamily properties across the Southeast U.S. “Several high-end lifestyle and cultural development projects including nearby Avalon have made this a highly sought-after area not only for businesses but also for residents. There is a deep and proximate employee base that will attract sophisticated employers to these buildings.” CBRE’s Heather Lamb has been awarded the leasing assignment for all five buildings.