±37,796 SF Office Building in Cumberland/Galleria Area
1700 Water Place
Atlanta, GA 30339
Description
Opportunity to acquire a well located 3-story lake front office building near The Battery in metro Atlanta at only $119/SF. Lakepointe offers investors the opportunity to acquire a property well below replacement costs in one of the best performing office sub-markets of metro Atlanta. Just completed improvements to the common areas, bathrooms, and parking lot pave the way for improved leasing and tenant retention.
The building is currently 39% occupied with average rents of $16.32/SF. CoStar reports 1 and 2 star office rents in the Cumberland Galleria average $20.63/SF, with positive absorption over the last 12 months and a vacancy factor of only 4.3%. The popular location near the Atlanta Braves mixed use development known as The Battery is poised for continued population and job growth.
The timing is excellent to ride the wave of increasing back to office trends, new supply constraints and continued growth in this popular Atlanta suburban market.
Cumberland/Galleria Area
