M & J Wilkow Announces Sale of Atlanta, Georgia Office Complex
Chicago, Illinois (September 23, 2016) – M & J Wilkow announced the sale of 2900 and 2950 Westside Parkway, an office complex comprised of two six-story institutional quality office buildings and a parking deck, located in suburban Atlanta, Georgia. The 394,124 square foot complex was sold to a subsidiary of LCN Capital Partners.
M & J Wilkow acquired the two office buildings in 2013 when occupancy was at 0%. Subsequently, Wilkow entered into a long-term lease with financial services technology provider Fiserv to occupy 100% of both buildings. The Company implemented an extensive asset improvement program, renovating the property into a world class headquarters building with a six story showpiece lobby to connect the two buildings. Additional improvements included modernized interiors, exterior landscaping upgrades, and the addition of a parking deck to service the buildings’ tenants.
"The sale of 2900 and 2950 Westside Parkway validates our original strategy for these properties, which was to take the vacant buildings and create a fully-leased, best-in-class office complex” said John Wiechart, Senior Vice President of Acquisitions and Asset Management at M & J Wilkow. "We recognized that a significant renovation and addition of amenities would vastly improve this asset for its tenant and ultimately maximize the return for our investors.”
About M & J Wilkow
M & J Wilkow is a leading commercial real estate owner and operator dedicated to creating value for its investors. The Company’s approach to real estate emerged distinctively from an owner's perspective and has evolved over seventy seven years in the real estate business. M & J Wilkow’s portfolio consists of 26 properties, which includes 10 office buildings and 16 retail properties consisting of approximately 7.4 million square feet. The aggregate market value of the portfolio is estimated to be in excess of $1.5 billion. For more information, visit www.wilkow.com.