The Dilweg Companies Sells Intellicenter in Atlanta
DURHAM N.C. (April 30, 2015) The Dilweg Companies, a commercial real estate investment and management firm based in Durham, today announced the sale of Intellicenter, a 150,000 square foot Class A office building located within the 416-acre master-planned Huntcrest development in Atlanta’s Duluth submarket.
The 3-story, LEED Silver-certified building is located in Lawrenceville and was built in 2006. Intellicenter is currently 100 percent leased.
“The suburban Atlanta office investment market has been very strong lately, and we felt this was a good time to exit this stabilized asset,” said Anthony Dilweg, CEO of the Dilweg Companies. “We were able to add value to this building and realize significant returns for our investors, which represents a notable win for our first Atlanta disposition.”
The Dilweg Companies acquired Intellicenter in December 2013 for $22.55M. The firm currently owns two other suburban Atlanta office assets, Barrett Summit in Kennesaw, and The Paddocks in Johns Creek.
About The Dilweg Companies: The Dilweg Companies is a full-service commercial real estate 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 $715 million in asset value and more than 7.5 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.