HUNTSVILLE (May 18, 2015) – A joint venture between affiliates of Triad Properties Holdings, LLC and Fairway Investments, LLC acquired Clairmont Place, a five-story, 93,754 square foot, Class A office building in Atlanta, Georgia. Triad and Fairway acquired the building for $10,500,000. Positioned on a 4 acre site, the building is located off Clairmont Road near I-85. Clairmont Place is 94% occupied.
The State of Georgia, via the Georgia Building Authority, leases 88,251 square feet of the building. The State of Georgia has the highest Standard & Poor Investment Grade Rating of “AAA.” The State’s space is occupied by the Technical College Systems of Georgia administrative leadership. Serving as a tremendous work force development generator, more than 36,000 students graduated last year from the State’s 25 colleges. Because the building has been a successful strategic fit for the Technical College Systems of Georgia, the System has been a building occupant for 22 years.
Completed in 1985, the Clairmont Place office building consists of architectural precast concrete panels alternating with reflecting ribbon glass. The recessed first and second floor corner is inset with curved glass which creates a striking architectural element that enhances the primary building entrance. The lobby features a two story entry lobby with a marble floor. Surface and structured parking provide ample parking for the building occupants.
Triad is pleased to have the opportunity to participate in its third joint venture with Fairway Investments. Built on integrity and character, Fairway is a privately held real estate investment and development company located in Birmingham, Alabama. The company was established in 1990 to provide wealth preservation and diversification for the owners of Thompson Tractor Company, one of the country’s strongest Caterpillar dealers. Since inception, Fairway has invested approximately $150 million in real estate and has accumulated a diverse portfolio of over 100 properties. The acquisition and long-term ownership of stabilized, operating properties, such as Clairmont Place, provides the foundation for Fairway Investment’s diverse portfolio.
About Triad Properties Corporation
Triad Properties Corporation was formed as a Huntsville-based real estate operating company to acquire, develop, finance, lease and manage commercial real estate for a select group of private investors and institutional clients. Since 1993, Triad and its affiliates acquired/developed more than 8.4 million square feet of commercial space in markets such as Atlanta, Dallas, Nashville, Memphis, and Huntsville. Triad’s track record includes more than 20 joint-ventured projects with Trammell Crow Company, as well as real estate transactions with domestic pension fund advisors, REIT’s, institutions and endowment funds.
Triad’s recent developments include the completion of Twickenham Square’s multi-story, mixed-use building, which includes an on campus medical office building for Huntsville Hospital, as well as the completion of two additional medical office buildings located on the campuses of Madison Hospital, and Athens-Limestone Hospital.