Dilweg Acquires Pershing Point in Atlanta
DURHAM, N.C. (March 5, 2018) – Commercial real estate investment firm, The Dilweg Companies, announced today the acquisition of Pershing Point in Atlanta.
Pershing Point consists of 409,579 square feet and was built in 1960. Major tenants include Kaiser Permanente, Huge, Echo Global, and CMGRP. The building was 59 percent leased at the time of sale.
“Pershing Point is a fantastic value-add asset in the heart of Midtown,” said Anthony Dilweg, CEO of The Dilweg Companies. “We see an exceptional opportunity to transform this building into a highly desirable and contemporary office building.”
Dilweg plans to invest more than $10 million to improve the building’s exterior, mechanical systems, common areas and tenant amenities and provide a modern “best in class” office experience for existing and future tenants.
The purchase of Pershing Point brings Dilweg’s Atlanta office holdings to more than 2.3 million square feet and Southeast office holdings to more than 6.4 million square feet. Dilweg owns five other Atlanta office assets: 101 Marietta Street in downtown Atlanta, The Pointe in Central Perimeter, Royal Centre in Alpharetta, 250 East Ponce in Decatur and The Paddocks in Johns Creek. The firm opened its Atlanta office in early 2015.
About The Dilweg Companies
The Dilweg Companies is a full-service commercial real estate investment firm based in Durham, North Carolina. Since its launch in 1999, Dilweg has gained broad experience in the acquisition, development and operation of office, retail, warehouse/flex, multifamily and self-storage properties. Dilweg’s investors have sponsored over $1.34 billion in assets and more than 11.1 million square feet throughout North Carolina, South Carolina, Virginia, Florida and Georgia. For more information, please call (919) 402-9100 or go to www.dilweg.com.