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Decatur Mixed-Use

Atlanta Business Chronicle
November 2nd, 2007

Day Capital Partners LLC recently purchased Decatur Court, the 10-story, 132,000-square foot office building that has stood in downtown Decatur for almost 40 years. Day wants to redevelop the land surrounding the office building, including a multifamily residential project, retail shops and a hotel. Those plans would continue the revamping of downtown Decatur that has been under way for several years and has included more condos, boutiques and restaurants.

Day Capital principals Robert Day and Joe Wilen bought the property from the previous owner, a Kaufman Realty Group investor partnership headed by Craig Kaufman. The firm was represented by Gary Lee, Andrew Murphy and Mark Jones of Carter.

Prior to the sale, the property was only traded one other time in it's 40-year history. Kaufman, which has owned and managed the property since 1998, will continue to manage the office building, whose occupancy rate is close to 90 percent.

Day became interested in the property because of the reinvestment occurring around Decatur Square. Decatur Court stands at the center of the resurgence in downtown, having been built in 1964 in what became the city's "center of commerce."

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