Miami firm buys Atlanta-area office complex for $13.5M

IG3 Real Estate also obtained an $8.4 million bank loan linked to its latest Atlanta-area acquisition

September 09, 2017 02:00 PM

Carlos Imery

Miami-based IG3 Real Estate bought an office complex in the Atlanta area for $13.5 million.

IG3 paid about $119 per square foot for the 113,016-square-foot Sugarloaf Business Center in Duluth, Georgia.

The office complex has a 98 percent occupancy rate. Major tenants include Credit Union Service Corp., Emory Clinic, United Healthcare Services Inc. and USASF Servicing.

IG3 obtained an $8.4 million loan from MidFirst Bank in connection with the property purchase.

“We are bullish on Greater Atlanta and continue to seek strategic investments in the area,” IG3 principal Carlos Imery said in a prepared statement.

The Miami firm’s recent acquisition in the Atlanta area include a 329-unit rental housing complex in Savannah, a 250,000-square-foot mixed-use development in Augusta and a 17,354-square-foot retail center in Woodstock.

Islandia Sugarwood, LLC of Westlake Village, California, sold the Sugarloaf Business Center to IG3. CBRE represented Islandia in the deal.

Related Article


Here’s everything you need to know about Opportunity Zones

State report finds open gas valve fueled building explosion at Plantation shopping center

Bayside Marketplace is planning another high-rise entertainment venue with a view

Construction of downtown Hollywood high-rise may start soon