Offshore investor Imperatum Georgia LLC has purchased the Cingular Wireless campus in Alpharetta, Ga., for $67.5 million. The facility, owned by Atlanta-based Barry Real Estate Cos. Inc., contains 376,000 sq. ft. of space in two 6-story buildings. A separate building houses a dining room.
Originally constructed as a build-to-suit facility for Nortel Networks, Barry released the space to Cingular Wireless during summer 2001. Chicago-based iCap Realty Advisors brokered the sale and arranged permanent financing with John Hancock Life Insurance Co.