Rumors have been flying around the Central Perimeter submarket about a new power player that could be entering the market. It has been reported that Crocker Partners is in talks to purchase Ashford Perimeter, the 288,000 SF office tower at the corner of Ashford-Dunwoody Rd and I-285. The building is currently on 38% leased and could represent a great value-add play for the Crocker. The purchase price is undisclosed, but the building currently has two $16 million loans out on it.
If Crocker goes through with the deal and purchases this office building, it could become an option for State Farm, who has recently released a 100,000 SF requirement in addition to the enormous chunks of space it has already scooped up. CBRE has been frantically trying to negotiate with current tenants in Three Ravinia so that they might be able to accommodate the new State Farm requirement, but they might not have to if Ashford Perimeter can emerge as real competition.Share