Lakepointe | Cumberland/Galleria Area | 37,796 RSF Office Acquisition Opportunity
1700 Water Place
Atlanta, GA 30339
Highlights
- Opportunity to acquire a 3-story, lake-front office building near The Battery in metro Atlanta at $119/SF.
- Recent improvements made to common areas, bathrooms, and parking lot to enhance leasing and tenant retention
- Building currently 49% occupied with average rents of $17.62/SF
- Prime location near Atlanta Braves Stadium, Truist Park, and The Battery mixed-use development
- Strong potential for continued population and job growth in this popular Atlanta suburban market
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 49% occupied with average rents of $17.62/SF. CoStar reports 2 star office rents in the Cumberland Galleria average $20.57/ SF, with positive absorption over the last 12 months and a vacancy factor of only 4%. The popular location near the Atlanta Braves Stadium, Truist Park, and surrounding 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
