**Zalik Investment Group Affiliate Acquires Palisades Office Park for $47.5M**
A group affiliated with Zalik Investment Group has acquired the Palisades Office Park, a 637,000-square-foot office complex in Sandy Springs, Georgia. The purchase price was $47.5 million—less than half of what the property previously commanded.
The seller, Atlanta Property Group, originally acquired the 23-acre campus more than a decade ago for $95.3 million in partnership with TPG Angelo Gordon, according to reports from the Atlanta Business Chronicle.
Rather than pursue a complete redevelopment, the new ownership group views the four-building complex as a value-add investment opportunity, aiming to enhance the existing asset.
Built during the 1980s and 1990s, Palisades Office Park is strategically located in the heart of the Central Perimeter submarket, adjacent to State Farm’s corporate campus—a key business hub in the Atlanta metro area.
Will Yowell of CBRE represented the seller in the transaction, while Ryan Goldstein of RG Real Estate represented the buyer.
This acquisition highlights the growing trend of investors seeking discounted office assets with long-term repositioning potential in a shifting commercial real estate landscape.
