The owner of the 2 Sun Court office building in Peachtree Corners sold off 2.2 acres of adjacent land for the development of a 170-residence mixed-use project. 

Charlotte, N.C.-based Redline Property Partners sold the property to Spalding Site Partners, which is a development partnership between Fred Kay and Bruce Fernald. Kay is an Atlanta-area multifamily veteran, and Fernald is a founder of urban-infill developer JPX Works. 

In addition to the residential component, plans for the project, which is located in the Atlanta Technology Park, call for ground-floor retail and a fitness center, as well as an extension of the Peachtree Corners public trail system. 

Financial details of the transaction were not disclosed. Redline purchased 2 Sun Court, a four-story, 98,040-square-foot office tower on 9.7 acres, for $11 million in 2017, according to Gwinnett County records.  

“We are thrilled to put this excess land into development, bringing even more best-in-class amenities to our Sun Court office tenants,” Redline President and Managing Partner Andrew Webb said in a press release. “With this development, Sun Court will become an even more vibrant live-work-play destination in Peachtree Corners.” 

Mark Lindenbaum of JLL represented Redline in the transaction. 

 

 

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