OA Development acquires 11-story building from Granite Properties
By Andy Peters
As published by CoStar News. Click to view.
September 2, 2025
OA Development is doubling down on the Atlanta office market, acquiring its second building in the past 13 months with an eight-figure price tag.
Granite Properties sold 100 City View to OA Development for $50.4 million last month, according to the companies. The 11-story building is 91% leased. Granite completed upgrades to the 249,455-square-foot property during its ownership tenure.
The sale closed as the Atlanta market has experienced an increase in vacancy concentration, or the share of office space contained within high-vacancy buildings, according to CoStar data. High-vacancy buildings accounted for about 82% of all vacant office space in Atlanta in the second quarter, up from about 65% in the fourth quarter of 2019.
In its other recent acquisition in the Atlanta office market, OA Development purchased the Sugarloaf Corporate Center for $32 million last year.
OA Development was attracted to the 100 City View property because of its low vacancy rate, said partner Josh Videlefsky. The Atlanta-based firm decided to make the acquisition, in part, because of a lack of bidding competition “as institutional capital remains sidelined in the office sector,” he said.
“The office sector is being dismissed almost entirely, whereas leasing and property fundamentals for the right type of office have actually proven to be strong,” Videlefsky told CoStar News.
The 100 City View property opened in 2000 in the Cumberland-Galleria district in northeast Atlanta. Pope & Land Real Estate was the original developer.
Murata, a Japanese manufacturer of electronic components, is the largest tenant, occupying about 50,000 square feet. The company committed to a long-term lease renewal in 2023, according to CoStar data. Other tenants include Regus, HLB Gross Collins and Pope & Land.
For the record
David Meline, Samir Idris and Burch Mixon at Cushman & Wakefield represented Granite and procured the buyer.