Durham-based Dilweg Acquires 418,000 SF in Central Perimeter
DURHAM, N.C. (May 30, 2017) – Commercial real estate investment firm, The Dilweg Companies, announced today the acquisition of The Pointe in Atlanta.
The Pointe consists of two mid-rise Class A buildings located in Atlanta’s Central Perimeter submarket. The buildings total 418,000 square feet and were built in 1981 and 1985. Major tenants include Cisco, Compass Group, and Ecova. The buildings were 66 percent leased at the time of sale.
“We are very excited to expand our Atlanta office footprint with the acquisition of The Pointe,” said Anthony Dilweg, CEO of The Dilweg Companies. “We believe these two well-located buildings within Central Perimeter are uniquely positioned to capture the market’s future growth.”
Dilweg plans to invest more than $3 million to improve the building’s operating systems, common areas and tenant amenities and provide a “best in class” office experience for existing and future tenants.
The purchase of The Pointe brings Dilweg’s Atlanta office holdings to nearly 2 million square feet. Dilweg also owns four other Atlanta office assets: Centennial Tower in downtown Atlanta, 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 $1.2 billion in assets and more than 11 million square feet throughout North Carolina, South Carolina, Virginia, Georgia and Florida. For more information, please call (919) 402-9100 or go to www.dilweg.com.