Dilweg Acquires Northridge Commons in Atlanta
DURHAM, N.C. (November 19, 2019) – Commercial real estate investment firm, The Dilweg Companies, announced today the acquisition of Northridge Commons in Atlanta.
Northridge Commons consists of seven single-story office assets located on 38+ acres located in Atlanta’s Central Perimeter submarket, centrally located between two of Atlanta’s most established infill neighborhoods – Sandy Springs and Dunwoody. Northridge Commons is within minutes of Atlanta’s most sought-after affluent suburbs (Roswell, Alpharetta, East Cobb, and Peachtree Corners) and intown communities (Buckhead and Brookhaven). The buildings total 470,571 square feet and were built between 1980 and 1984. At the time of sale, Northridge Commons is 68 percent leased to 38 unique tenants. Major tenants include Community Loans of America, Verte Logistics, Atlanta Apartment Association, and Shadow-Soft.
“We continue to buy into Southeastern fundamentals, the overall Atlanta story, and the role creative office will continue to play in select urban and suburban locations throughout the city.” said Anthony Dilweg, CEO of The Dilweg Companies. “Our plans for Northridge Commons are to invest upwards of an additional $10 Million to further create an ethos that we believe tenants will find highly attractive and compelling.”
Dilweg will invest $9.96 million in capital improvements to fully reposition the Property into a vibrant, contemporary, creative office park. Utilizing high-ceilings, open floor plans, outdoor gathering spaces, and modern interior and exterior finishes, Dilweg’s repositioning strategy will provide a “best in class” creative office experience for existing and future tenants. Northridge Commons will serve as the only creative office within ten miles.
The purchase of Northridge Commons brings Dilweg’s Atlanta office holdings to nearly 2.2 million square feet and Southeast office holdings to nearly 6.2 million square feet. The firm also owns five other Atlanta office assets: 1375 Peachtree, 101 Marietta, 250 East Ponce, Paddocks, and The Pointe. Dilweg opened its Atlanta office in 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 $1.74 billion in assets and more than 11.6 million square feet throughout North Carolina, Georgia, Florida and Tennessee. For more information, please call (919) 402-9100 or go to www.dilweg.com.