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Kaufman Sells Downtown Decatur Office Bldg. for $16M

Day Acquires 10-Story Property at 315 W. Ponce De Leon
November 7, 2007
Kaufman Realty Group sold Decatur Court at 315 W. Ponce De Leon Ave. in Decatur to Day Capital Partners for $16.3 million, or about $123 per square foot. The property sold at a 90% occupancy rate.

The property is a 10-story, 132,000-square foot, Class B office building. Renovated in 1998, the building is leased to 90 small office tenants. Day Capital Partners has plans to develop the remainder of the 5-acre lot for multifamily units, retail and a hotel. According to Robert Day of Day Capital Partners, the property was purchased primarily for the potential to make additional income from the development of the surrounding land.

Gary Lee, Andrew Murphy and Mark Jones of Carter represented Kaufman Realty Group. Day Capital Partners handled the deal in-house.

Please refer to CoStar COMPS #1425101 for more information on this transaction.
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