Atlanta Property Group (APG), a leading Atlanta full-service real estate firm, announces it has gained five new third-party assignments totaling more than 400,000 square feet of office and industrial space. This continued momentum follows APG’s announcement earlier this year to more broadly deploy its established third-party platform, which includes property management, construction management, leasing, and accounting to the Atlanta market. In 2022, APG gained nearly 1 million square feet of new third-party business.

The new assignments include 2500 Cumberland, a 145,000-square-foot office building in Cobb County that is currently 100% leased. Independent insurance brokerage Sterling Seacrest Pritchard recently signed a long-term lease for a 64,000-square-foot extension and expansion at the property. Other third-party wins for APG are Lakewood II, a 123,000-square-foot office building in Smyrna, and Paran Place, a 35,000-square-foot office building centrally located in the Paces neighborhood. All three properties are owned by NORO Management, an Atlanta-based commercial real estate investment company. 

“We are pleased with APG’s management and leasing capabilities at Peachtree 25th, and are confident that they are the right third-party partner for several other buildings in our portfolio,” said Andy Wildman, President of NORO Management. “We are excited to have expanded our partnership with APG and look forward to having them onboard.”

APG was also awarded the third-party assignment for Parkbrooke Place, a 55,000-square-foot medical office building in Woodstock, and Riverdale Industrial, a 50,000-square-foot industrial property in Riverdale. Currently 85% leased, Riverdale Industrial marks the second of APG’s industrial third-party assignments in the south Atlanta submarket.

So far this year, APG has secured 23 new leases and renewals. These transactions have generated $12.8 million in new net income. To support the growth and expansion of its third-party portfolio, APG has hired five new team members that are focused on providing additional capacity for future assignments.   

“As we continue to grow our third-party portfolio, we are well-positioned to deploy our proven management and leasing platform to add value and reduce operating costs for owners and investors,” said Austin Chase, Managing Partner, Real Estate Services at APG. “We know that having the right strategies in place can ensure that office and industrial properties are well-positioned to attract and retain tenants.”