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Metso's Still Home

2900 Courtyards Drive Sold, But Metso Paper Not Leaving
By Alison Mannino
February 8, 2002 | 3:39 P.M.

2900 Courtyards Drive in Norcross, GA was sold to High-Tech Realty Group for $900,000, about $20 per square foot. The building is fully leased to Metso Paper USA Inc., which will remain the property's tenant. The 45,685-square-foot, single-story industrial building is situated on more than 3 acres with plenty of parking at a ratio of 2.2/1000. Paige Woolvine of LaSalle Partners in Chicago represented the seller, Premier Property Northwoods 18-22 Partnership. Tyler Edgarton of Resource Real Estate Partners represented High-Tech Realty Group, the buyer. "This acquisition provided us an opportunity to make an excellent cash return without the time and risk associated with leasing a property and creating an exit strategy. It was a very unusual real estate deal in that our upside is actually a default by the tenant," said Tyler Edgarton, managing member of High-Tech Realty. The group of investors continue to look for opportunities in the Atlanta real estate market.

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News | Metso's Still Home