Dilweg Acquires 250 E. Ponce in Downtown Decatur
DURHAM, N.C. (Aug. 15, 2016) – Commercial real estate investment firm, The Dilweg Companies, announced today the acquisition of 250 E. Ponce, a 141,582 square-foot office building in Decatur, Georgia.
250 E. Ponce is an 8-story office building located in downtown Decatur. The building was constructed in 1962 and was 83.5 percent leased at the time of the sale. Major tenants include Wells Fargo Bank, Utility and ELS Educational Services.
“250 E. Ponce represents an excellent opportunity to invest in a high-quality office building in an extremely tight submarket,” said Anthony Dilweg, CEO of The Dilweg Companies. “We are excited about expanding our Atlanta office footprint and repositioning this asset in the thriving city of Decatur.”
The purchase of 250 E. Ponce brings Dilweg’s Atlanta office holdings to more than 1.5 million square feet. Dilweg also owns three other Atlanta office assets: Centennial Tower in downtown Atlanta, Royal Centre in Alpharetta, and The Paddocks in Johns Creek. Last week, the firm sold its 182,000 square-foot office park in Kennesaw. The firm opened its Atlanta satellite office in early 2015.
The successful acquisition of this Class A office tower was facilitated by a cross-platform of CBRE market leaders. The sale was co-led by Jay O’Meara, Senior Vice President of Institutional Properties, and Paul Berry, Executive Vice President of the Southeast Multifamily Group.
Stream Realty has been selected to handle the leasing and management for 250 E. Ponce. For more information about 250 E. Ponce, including availabilities, please visit: http://www.250eponce.com
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 $975 million in assets and more than 9.3 million square feet throughout North Carolina, South Carolina, Virginia and Georgia. For more information, please call (919) 402-9100 or go to www.dilweg.com.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.