LGE Marietta branch sold to Cobb for $13 million

The Marietta branch of the LGE Community Credit Union, 430 Commerce Park Drive, Marietta will be bought by Cobb County for $13,475,000 to become the replacement headquarters for the Cobb County Police Department.

The Cobb County Board of Commissioners on Aug. 28 ratified the action of purchase and sale that they had taken in executive session on May 21.

The exact amount of related acquisition costs, including title search, title insurance premium, surveys, tax proration, closing costs and any other necessary expenses, will not be known until the settlement statement is available.

After the closing around Aug. 31, LGE will be allowed to occupy the property for up to 24 months, providing that LGE will pay rent and be responsible for all costs associated with the use and maintenance of the property during the lease.

Starting the credit union in 1951 at this Marietta branch, today LGE has 11 branches throughout the north metro Atlanta area.

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