Atlanta Firm Acquires 13 Office Properties from Piedmont REIT

Here's the official press release from news we were hearing about last week. Congrats to Atlanta native Jeff Shaw.

Bridge Office Acquires Portfolio of 13 Office Buildings from Piedmont Office Realty Trust

Acquisition Marks Continued Expansion of Bridge Investment Group’s National Footprint

ATLANTA - January 8, 2018 – Bridge Office Fund Manager LLC (Bridge Office), a subsidiary of Bridge Investment Group LLC (Bridge), today announced the acquisition of a portfolio of 13 office buildings from Piedmont Office Realty Trust (NYSE:PDM) through its affiliates.

The properties, which total more than 2.2 million SF of office space, have a combined occupancy of 76 percent. The buildings acquired are located close to major thoroughfares and provide easy access and short commute times from a large professional job base.

“With the acquisition of these quality assets, we are excited to expand our national footprint to more than 9 million square feet across 15 states,” said Jeff Shaw Principal with Bridge Office and CEO of Bridge Commercial Real Estate. “The excellent locations, cost of living, quality lifestyle, steady job growth and the talented labor pools of these markets make the properties appealing to office tenants. These properties are directly in line with the Bridge Office urban suburban investment strategy of acquiring into the prime business centers of healthy cities around the US.”

The portfolio consists of assets strategically located throughout the growing prime suburban markets of Atlanta, GA; Boston, MA; Chicago, IL; Nashville, TN; Phoenix, AZ; Bethesda, MD; Detroit, MI; as well as locations in South Florida. Specifically:

·        Desert Canyon 300 (Phoenix, AZ),

·        Windy Point I & II (Schaumburg, IL),

·        2300 Cabot Drive (Lisle, IL),

·        1075 West Entrance Drive & Auburn Hills Corporate Center (Auburn Hills, MI),

·        5301 Maryland Way (Brentwood, TN),

·        Suwanee Gateway One (Suwanee, GA),

·        5601 Hiatus Road (Tamarac, FL),

·        Piedmont Point I & II (Bethesda, MD) and

·        1200 Crown Colony Drive (Quincy, MA).