ATLANTA – October 3, 2024 – Stream Realty Partners, a national commercial real estate firm offering an integrated platform of services, has brokered the sale of 3585 Engineering Drive in Peachtree Corners, Georgia. The 9.3-acre site, located in Peachtree Corners’ Technology Park/Atlanta, was sold to Forestar Group Inc. (“Forestar”), one of the largest residential community developers in the nation. The transaction clears the way for the demolition of a 102,000-square-foot office building, making room for the development of 75 upscale townhomes. The new residential community is anticipated to open in Spring 2026.
Stream Managing Director Bryan Heller represented the seller, a private investment group, in the sale while the buyer was unrepresented.
“We were pleased to represent the seller in this land sale, one of the few successful entitlement modifications from office to residential in the Atlanta market,” said Heller. “Peachtree Corners, particularly the Technology Park/Atlanta CBD area, is evolving into a vibrant work-live-play community. A new townhome development, walkable to several current and upcoming commercial hubs, will further enhance the area’s appeal. The sale to Forestar was the right strategic move for the seller, aligning with both the market and community vision.”
Forestar plans to sell the homesites to D.R. Horton, America’s largest homebuilder by volume since 2002. According to Jessica Loya, Forestar Atlanta Central Division Investments and Development Director, this project is an excellent fit for both companies.
“As one of the largest single-family residential community developers in the country, Forestar has successfully completed numerous infill projects nationwide,” she said. “Additionally, D.R. Horton’s three-story product with front and rear entry options will attract homebuyers searching for a low maintenance lifestyle in Peachtree Corners.”
In addition to the sale of 3585 Engineering Drive, Heller and Stream Associate Brady Emich have been chosen to market a prime 3.5-acre site at the intersection of Peachtree Parkway and Engineering Drive. This property, adjacent to 3585 Engineering Drive, is ideally suited for retail, restaurant, and entertainment development, further enhancing the area’s growth potential.
For more information, contact Stream Atlanta at 404.962.8600.
About Forestar Group Inc.
Forestar Group Inc. is a residential lot development company with operations in 60 markets and 24 states. Based in Arlington, Texas, the Company delivered more than 14,600 residential lots during the twelve-month period ended June 30, 2024. Forestar is a majority-owned subsidiary of D.R. Horton, Inc., the largest homebuilder by volume in the United States since 2002. For more information, visit www.forestar.com.
About Stream Realty Partners
Stream Realty Partners is a national commercial real estate firm offering an integrated platform of leasing, investment and development services. This includes tenant and landlord representation, Legendary CX property management, capital markets, investment management and sales, construction, construction management, national program management, workplace strategies, strategic marketing, and dedicated research. The company is headquartered in Dallas with operations in core markets coast to coast. Since 1996, Stream has grown to more than 1,400 professionals and now completes annual transactions valued at more than $8.8 billion in office, industrial, retail, healthcare, land, and data center properties. For information, visit www.streamrealty.com and follow Stream on LinkedIn, Instagram, X and Facebook.
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