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United States: OFS Brightwave Solutions Closes Sale Of 103 Acres In Metro Atlanta; Joe Foltz, Womble Bond Dickinson Team Advise On Complex Real Estate Transaction
LAWRENCEVILLE, GA.—Congratulations to Womble Bond
Dickinson client OFS Brightwave Solutions! The company has closed a
$34.4 million agreement to sell 103 acres of surplus land and
buildings to Gwinnett County. OFS will continue to operate its
industry-leading fiber optics manufacturing facility on the
remaining 67 acres.
Womble Bond Dickinson attorney Joe Foltz has worked with OFS on
this project for 13 years, through eight different purchase and
sale agreements. Paralegal Linda Martin has been part of the team
that entire time, and attorneys Keith Taylor and Ashley Bynoe
played key roles in the representation and deal closing.
The site on I-85 at Jimmy Carter Boulevard is considered one of
metro Atlanta's prime real estate locations. Gwinnett County is
working to develop a private-public mixed-use community on the
site, as well as a possible multi-modal transit station. The
location currently is used for feature film productions, and those
projects will continue as well.
The agreement originally was announced in May, following 11
months of negotiations.
In a statement, Gwinnett County Board of Commissioners Chairman
Charlotte Nash called the purchase "a good deal for our
community and a strategic investment in its long-term success.... I
am most grateful to OFS for its willingness to work with the County
and to all of the parties involved for making this transaction
happen."
Joe Foltz has been one of the Atlanta market's leading
transactional attorneys for more than three decades. He represents
developers, property owners, managers and equity investors in the
acquisition, development, leasing, structured financing and
management of commercial real estate and operating businesses.
Foltz also practices in the area of corporate finance, secured
lending and general corporate law.
Ashley Bynoe's practice, which draws on her background in
finance, data analytics, and revenue management, focuses on
franchise development and commercial real estate transactions. She
analyzes legal issues and drafts contracts for commercial real
estate clients related to real estate sales and purchases,
corporate structuring, commercial finance, local zoning, leasing,
and franchise negotiation issues.
About OFS
OFS is a world-leading designer, manufacturer and provider of
optical fiber, fiber-optic cable, connectivity,
fiber-to-the-subscriber and specialty fiber-optic products.
Applications include telecommunications, medicine, industrial
automation, sensing, aerospace, defense and energy. Headquartered
in Norcross, OFS is a global provider with facilities in China,
Denmark, Germany, Russia, Morocco and the United States. OFS is
part of Furukawa Electric Company, a multi-billion dollar leader in
optical communications.
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