Buyers Close On The Overlook in North X Northwest Park

Streetcar Properties LLC and Haven Cobb Properties LLC closed on The Overlook Building in Atlanta. Bakshi Enterprises sold the building in North X Northwest business park for $2.84 million, or about $87 per square foot.

The Overlook Building is a two-story, 32,715-square-foot office building in the Cumberland/Galleria submarket of Atlanta. The principal tenants are Lab Lynx Inc. and Diverspack Inc.

Gary Eubanks, a principal at Streetcar Properties LLC, was the buyer broker. Anderson Bell of Anderson Bell Inc. represented Ramesh Bakshi.

At the time of sale the building was 70% occupied. The remainder of the property is currently for lease through Gary Eubanks at Wharton Management Group.

Bakshi originally purchased the building in 2001 from Overlook Partners for $2.28 million. Sun Life Assurance Co. of Canada provided financing for Streetcar Properties LLC and Haven Cobb LLC by a loan assumed from Bakshi.

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source: costar.com