ICM Acquires Lake Ridge Technology Center, Atlanta GA
ICM, the international real estate investment and management firm, announced today that it has purchased Lake Ridge Technology, located at 200-500 Technology Court in the northwest submarket of Atlanta. The purchase represents ICM’s fifth investment in Atlanta since 2012.
As part of the purchase, ICM has committed to immediately completing significant capital improvements to both the buildings and the park. In addition, ICM intends to enhance property management to better serve the needs of the building’s occupants.
”We are pleased to be expanding our portfolio in a market that has benefited from top five employment growth and the long-term opportunities real estate demand created by the ongoing economic expansion,” said Bruce Timm, ICM’s CEO. “This transaction signifies our ongoing commitment to investing in Atlanta and the Southeast U.S. markets.”
”ICM has found an opportunity to provide tenants with immediate, positive changes resulting from ICM’s signature hands-on approach and capital investment in the property,” said ICM Managing Director Spencer Patton. “This asset’s value-enhancement potential is an excellent fit with our investment strategy.”
Lake Ridge Technology Center is strategically located just outside the intersection of I-285 and South Cobb Drive in the Smyrna (Northwest) sub-market. With a number of nearby amenities and direct access to Atlanta’s superior interstate network, the building maintains superior accessibility and affordability for its tenants. The central location allows companies to access multiple talent pools in order to attract and retain employees from all areas of the metro. The park includes a four (4) single story buildings with abundant parking and flexible layout options.
In order to deliver the best service possible, ICM has partnered with Songy Highroads for the property management and has enlisted the services of Chip Roach, Stephen Clifton and Trey Weghorst with PM Realty Group for leasing the remaining vacant space.