ATLANTA, Ga. (January 2017) – Onward Investors, a national commercial real estate investment and development firm, has purchased Lakeside Centre through CRE Lakeside, LLC from an AEW Capital Fund, VIF II/Lakeside LLC. The $42,050,000 purchase is Onward’s largest to date. The six-building office campus is located on Lakeside Parkway in the northeast Atlanta suburb of Tucker, Ga.
Onward Investors, which acquires value-add properties in recovering markets throughout the U.S., resolves complex issues to stabilize the properties and derive value for investors. In early 2016, the company acquired two other Georgia properties, including Lavista Business Park in Tucker and 6465 E. Johns Crossing in John’s Creek.
The 517,170-square-foot Lakeside Centre, situated on 33.5 acres, consists of six office buildings: one nine-story, deck-parked office tower; one three-story office building; and four single-story office buildings. The Class A office property, which was developed between 1984-1990, also has an 865-space covered parking deck and additional surface lots for 2,145 vehicles.
Lakeside Centre, is collectively 89-percent leased to some of the biggest tenants in the market, including AMEC Foster Wheeler, Le Cordon Bleu, Kikkoman and Sollant Health. Lakeside’s leasing broker is Peter McGuone in the Atlanta office of CBRE.
The property is strategically positioned within the Tucker-Northlake market, one of metro Atlanta’s most accessible locations for large-small corporate office users, and easily accessible to major transportation corridors of I-285, I-85, Hwy-78, Hwy-29, I-20, Buford Highway and Peachtree Industrial Blvd.
Onward’s renovation plans are to upgrade the 1990 building lobby, improve building amenities and make other general improvements for all six buildings. The company has hired BoggsVickers Architects of Dunwoody, Ga. for design and JLL for property management.
Lakeside Centre’s campus includes buildings 1927, 1957, 1967, 1975, 1979 and 1990 on Lakeside Parkway, Tucker.
About Onward Investors
Based in Minneapolis, Minn., Onward Investors LLC is a privately held commercial real estate investment and development firm that acquires and improves value-add properties in recovering markets for investors. Since its inception in 2011, the firm has acquired and managed more than 2.5 million square feet of commercial properties across the United States. www.OnwardInvestors.com