Johns Creek, Ga., 9/19/07 — A Block and Company Inc., Realtors sponsored investment group recently acquired five low-rise office buildings situated in the Colonial Center at Mansell Overlook business park located in metro Atlanta's Roswell/Alpharetta submarket.

Located off Mansell Road in Roswell just west of GA 400, the Colonial Center portfolio acquired by Block is comprised of two 2-story buildings and three single-story buildings, totaling 188,400 square feet on 14.8 acres. The buildings are 78% leased.

In addition to the North Point Mall amenities base and proximity to executive housing, the property benefits from direct frontage and access to the new Westside Parkway, which will connect the Mansell Road corridor with the amenities under development on the west side of GA 400, including the Verizon Wireless Amphitheatre at Encore Park, the Uptown Entertainment District and the mixed-use Prospect Park.

Resource Real Estate Partners represented the seller A-Colonial Center, LLC in the sale of the asset to the Block Group.  The sale price was not disclosed but believed to be approximately $22,100,000.  Kenneth G. Block, Principal of Block and Company Inc., Realtors and Brian R. Beggs, Director of Acquisitions for Block and Company Inc., Realtors managed the transaction for the buyer.  TPA Realty Services, LLC out of Atlanta will provide leasing and management services on the asset for the buyer.

(July 2009 - The unit of Block & Company, Inc. referenced in this article is now Block Real Estate Services, LLC)