Century Pacific Sells 5655 Peachtree in 1031 Exchange

Century Pacific Mortgage Corp. of Norcross, GA, sold a 50,901-square-foot building at 5655 Peachtree Parkway in Atlanta to Scott and Julia Rodriguez for $5.2 million, or about $102 per square foot. The property has at an estimated 7.8% capitalization rate. This transaction was part of a 1031 exchange for the buyers.

The office building, in Century Lakeview Park, has three stories and was built in 1989. It is on a little more than 5 acres. The property has a fitness center as well as on-site management.

Daniel Decraene with Advance Realty Service represented the seller. David Bailey with David Bailey Real Estate represented the buyers.

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source: costar.com