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Parmenter Acquires 1455 Lincoln Parkway in Atlanta, Georgia

MIAMI, Fla., June 10, 2015 – Parmenter, a fully integrated real estate investment, management and development firm, has acquired 1455 Lincoln Parkway in Atlanta, Georgia, an 8-story, 186,846 square foot, office building for an undisclosed amount from Fairlead Commercial Real Estate, LLC.

“The acquisition of 1455 Lincoln Parkway demonstrates our commitment to create value and strategically enhance our portfolio in the Sunbelt portion of the United States,” said Darryl Parmenter, Chairman and CEO of Parmenter. “Fronting on I-285, the building is well situated to respond to the demand of today’s tenants. The Central Perimeter submarket has evolved into a thriving ‘live, work, play’ urban market, enabling area employers to attract the millennial workforce among others.”

Built in 1986, 1455 Lincoln Parkway is located directly off Perimeter Central East in Central Perimeter, Atlanta’s largest office submarket. The building offers superior on-site amenities, including a conference center, café and onsite security. The building also offers easy access to the main arteries of North Atlanta, yet remains removed from the most congested areas of the submarket.

“Parmenter plans to implement a $2 million capital improvement program including both cosmetic improvements and extensive mechanical work which will improve performance and the tenant experience as well as dramatically reduce energy consumption,” said John Davidson, Managing Principal- Southeast Region at Parmenter. “1455 Lincoln Parkway is Parmenter’s second acquisition in the Central Perimeter submarket following the closing earlier this year of the 158,000 square foot, 200 Ashford Center North.”

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