Chicago, IL -- The Alter Group (www.altergroup.com) has completed the disposition of Brookside 100, a five-story, 129,421 SF office building at Brookside Concourse in Alpharetta, GA. Michael J. Alter, President of The Alter Group, announced the transaction.
The building, completed in 2000, was purchased by California-based ESRI, which designs and develops the world's leading geographic information system (GIS) technology. Founded in 1969, ESRI has 2,500 employees and 10 regional offices in the U.S., and more than 80 international distributors, and users in more than 150 countries. "In this challenging capital markets environment, it was great to identify a well-capitalized buyer that was looking for space to occupy as well as to own," said Alter.
The 45-acre Brookside Concourse is located at Highway 120 (Old Milton Parkway, formerly State Bridge Road), just east of Georgia 400. Part of the 204-acre, mixed-use Brookside business park, Brookside Concourse ultimately will have more than 550,000 SF of single- and multi-story office space.
James I. Clark III, Managing Principal, EnTrust Realty Advisors, LLC (www.entrustrealty.net), represented The Alter Group. An affiliate of The Alter Group, EnTrust Realty Advisors specializes in the disposition and recapitalization of investment real estate through direct sales, joint ventures and structured financing.
The Alter Group is a national corporate real estate development firm of office, industrial and healthcare facilities. Additionally, the firm provides comprehensive services in brokerage, construction, investment services, and property and asset management.
Founded by William A. Alter in 1955, The Alter Group has developed close to 100,000,000 SF of speculative projects for its own portfolio and build-to-suit facilities for corporate users. This year, the company has 4,000,000 SF of space, worth $600,000,000, under development in national markets. The firm was recently ranked as # 5 in the National Real Estate Investor survey of America's top office developers.