Norcross firm makes series of office purchases

A Norcross-based real estate firm has snapped up its latest suburban office building, part of a series of purchases in a burgeoning portfolio.

OA Development said it recently purchased its 13th property — and 11th overall in metro Atlanta — in the past five years. The latest property is called One Point Royal on North Point Parkway in Alpharetta. The two-story building is about three-fourths occupied.

OA bought the nearly 150,000-square-foot property for $13.7 million. The company has amassed about 1.6 million square feet of suburban office, industrial and multiple-use properties, mostly in metro Atlanta, a company representative said. Tenants include North Point Ministries, General Electric and Cabot Corp., OA said in a news release.