Newmark Arranges $20.75 Million Sale of Century Springs Office Park in Sandy Springs to OA Development and Buligo Capital Partners

Newmark has arranged the $20.75 million sale of Century Springs Office Park, a 192,247-square-foot, two-building infill office property located in the Central Perimeter submarket of Sandy Springs, Georgia, the firm announced September 10, 2026.

A partnership between OA Development and Buligo Capital Partners acquired the property from The Ardent Companies, which had owned the asset since 2014. The transaction brings OA Development's office portfolio to more than 2 million square feet and represents the firm's fourth office acquisition in approximately two years, as well as its fourth investment alongside Buligo Capital Partners in that same period.

Transaction Details and Brokerage

Newmark Capital Markets Vice Chairmen Jay O’Meara and Justin Parsonnet and Senior Managing Director Ryan Reethof represented the seller, The Ardent Companies, in the transaction. The two mid-rise office buildings — Century Springs East at 6000 Lake Forrest Drive NW and Century Springs West at 6100 Lake Forrest Drive NW — total approximately 192,247 square feet and are situated in the heart of Sandy Springs with regional connectivity via I-285 and Georgia 400.

The implied pricing of approximately $108 per square foot reflects the value-add positioning of the deal. The property has maintained average occupancy above 90% over the past decade, supported by a diverse rent roll of local businesses, medical tenants, and service firms.

"Century Springs demonstrates the durability of the neighborhood office model," said Jay O’Meara. "The property has a diverse base of local businesses, medical tenants and service firms that are highly committed to the location, supported by a walkable setting, proximity to executive housing, and a beautiful setting. With an increasing portion of office inventory in Atlanta's Central Perimeter submarket increasingly being removed for redevelopment, the fundamentals for well-located in-fill assets like Century Springs continue to strengthen."

Seller and Buyer Perspectives

Matt Shulman, CEO of The Ardent Companies, characterized the transaction as consistent with the firm's portfolio management approach. "We are pleased to have completed the sale of Century Springs to OA Development," Shulman said. "The transaction reflects our disciplined, asset-by-asset approach to portfolio management and realizing value for our investors. We are proud of our team's stewardship of the property and the strong tenant relationships it built, and we believe Century Springs is well positioned for its next chapter."

The Ardent Companies, founded in 2012, operates as a privately held real estate firm with more than $6.8 billion of capital deployed and approximately $2.7 billion in assets currently under management across 40 states and three countries.

Josh Videlefsky, Partner at OA Development, cited the property's rent roll diversity and location as key drivers of the acquisition. "We were attracted to Century Springs for its highly diversified rent roll and premier location," Videlefsky said. "This marks our fourth investment with Buligo in approximately two years and aligns well with our strategy — to acquire well-located office assets relevant post-COVID that we believe are undervalued."

Asset Profile and Submarket Context

Century Springs Office Park comprises two five-story mid-rise office buildings totaling approximately 192,247 square feet. The property offers walkability to City Springs, Parkside Shops, and other surrounding amenities, and is positioned to benefit from the completion of the neighboring Hillcrest mixed-use development. The site's scale also provides long-term optionality for future densification as Sandy Springs continues to grow.

The Central Perimeter submarket carries an inventory of approximately 35.8 million square feet. Vacancy in the submarket has remained elevated, with figures reported in the mid-to-high 20% range through recent quarters, reflecting broader pressure on Atlanta's office market, where overall vacancy has hovered near 25% or above. At the same time, Central Perimeter recorded more than 650,000 square feet of lease transactions in the first quarter of 2026, leading all Atlanta submarkets and representing roughly a 70% increase year-over-year, underscoring continued leasing demand even amid elevated availability.

The transaction reflects a broader trend in Atlanta's Central Perimeter, where a growing share of older office inventory is being removed from the market for redevelopment, a dynamic that is tightening supply for well-located, stabilized infill assets.

About the Firms

Newmark Group, Inc. (Nasdaq: NMRK) is a commercial real estate advisory and services firm. For the twelve months ended June 30, 2026, Newmark generated revenues of more than $3.6 billion and operated from over 195 offices with more than 10,000 professionals across four continents.

The Ardent Companies pursues opportunistic and diversified real estate investment strategies with a presence in 40 states and three countries, and team members based in Atlanta, Charlotte, Miami, Los Angeles, Chicago, New York City, and London.

Sources: Newmark Press Release — Newmark Arranges $20.75 Million Sale of Century Springs in Sandy Springs, Georgia