Commercial real estate investment firm, The Dilweg Companies, announced the acquisition of 250 E. Ponce, a 141,582 square-foot office building in Decatur, Georgia.

250 E. Ponce is an 8-story office building located in downtown Decatur. The building was constructed in 1962 and was 83.5 percent leased at the time of the sale. Major tenants include Wells Fargo Bank, Utility and ELS Educational Services.

“250 E. Ponce represents an excellent opportunity to invest in a high-quality office building in an extremely tight submarket,” said Anthony Dilweg, CEO of The Dilweg Companies. “We are excited about expanding our Atlanta office footprint and repositioning this asset in the thriving city of Decatur.”

The purchase of 250 E. Ponce brings Dilweg’s Atlanta office holdings to more than 1.5 million square feet. Dilweg also owns three other Atlanta office assets: Centennial Tower in downtown Atlanta, Royal Centre in Alpharetta, and The Paddocks in Johns Creek. Last week, the firm sold its 182,000 square-foot office park in Kennesaw. The firm opened its Atlanta satellite office in early 2015.

The successful acquisition of this Class A office tower was facilitated by a cross-platform of CBRE market leaders. The sale was co-led by Jay O’Meara, Senior Vice President of Institutional Properties, and Paul Berry, Executive Vice President of the Southeast Multifamily Group.