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San Francisco-TriNet Corporate Realty Trust has acquired an Atlanta office property for $60 million.
The new acquisition is north of downtown Atlanta within a masterplanned, Class A office development known as RiverEdge. The property includes structured parking and additional land for the development of a third building of approximately 250,000 square feet.
The buildings are 100% leased, with IBM occupying 87% of the space representing over 90% of the property's rent.
This transaction represents TriNet's second acquisition of an office property leased to IBM. In February TriNet acquired one of IBM's North American Customer Services Call Centers in Dallas.
TriNet Corporate Realty Trust is a real estate investment trust that acquires, owns and manages predominantly office and industrial properties leased to major corporations nationwide.
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