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Dilweg Purchases Intellicenter in Atlanta

DURHAM N.C. (Dec. 20, 2013) The Dilweg Companies, a leading commercial real estate investment and management firm based in Durham, has purchased Intellicenter, a 150,000 square foot Class A office building in Atlanta’s Duluth submarket, from a fund advised by Prudential Real Estate Investors.

The 3-story, LEED Silver-certified building is located in Lawrenceville and was built in 2006. Intellicenter is currently 90 percent leased, and its major tenants include the University of Georgia, Liberty Mutual, Airgas Carbonic and STMicroelectronics. The property is located within the 416-acre master-planned Huntcrest development.

“Intellicenter is a great addition to our office portfolio,” said Anthony Dilweg, CEO of the Dilweg Companies. “As Atlanta continues to recover, we believe there will be strong demand for suburban office space. Intellicenter’s modern and sustainable design, coupled with its desirable location, will help it maintain above average occupancy.”

Intellicenter is Dilweg’s third acquisition in the Atlanta metro. The firm currently owns four office buildings in Atlanta including Paddocks, a 97,000 square foot office building in Johns Creek, and Barrett Summit Office Park, consisting of three office buildings with 180,000 square feet in Kennesaw. In addition to its Atlanta acquisitions, Dilweg has recently purchased 84,000 square feet of office and retail properties in the Raleigh-Durham market, as well as three prominent office buildings consisting of 568,000 square feet in Charlotte.

Kevin Markwordt of Transwestern represented the seller and Zach Ashton of the Dilweg Companies represented the buyer on the deal.

About The Dilweg Companies: The Dilweg Companies is a full-service commercial real estate firm based in Durham, North Carolina. Since its launch in 1997, 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 $600 million in asset value and more than 6.5 million square feet throughout North Carolina, South Carolina, Virginia and Georgia. For more information, please call (919) 313-3483 or go to www.dilweg.com.