RGRE has closed on a noted multitenant office building that is home to a prominent Georgia bank’s East Cobb operations for more than $3 million.

RGRE purchased 1200 Johnson Ferry Road, a 26,650-square-foot building near the intersection of Roswell Road and Johnson Ferry Road in Marietta for $3.1 million. Twelve Hundred Johnson Ferry Road has been the long-time home to Bank of North Georgia, which will continue to operate a bank branch there. But the bank is relocating its other operations to the new Synovus headquarters in Cobb, freeing up office space that RGRE will market to multiple potential tenants.

This purchase is the latest investment by RGRE in Atlanta’s suburban office market and is a strong value-add play for the firm.  “We like well-located properties in good demographic areas with a value-add component,” RGRE founder and President Ryan Goldstein said.

 

RGRE is responsible for more than 1.5 million square feet of real estate in the Metro Atlanta area. The firm is actively evaluating further investment opportunities in the Southeast, Goldstein said.

RGRE also recently brokered the sale of Holcomb Bridge Business Center, a three-building, 71,000-square-foot flex park off Holcomb Bridge Road in Roswell/Alpharetta. The buyer is a consortium of RGRE’s private investors who paid $5.2 Million. In turn, the new owners have tapped RGRE to lease and manage the property and stabilize the rent roll for long-term ownership.