In a transaction brokered by Transwestern's Southeast Investment Services Group, Virginia-based SugarOak Holdings has acquired a 58,529-square-foot office building at 8010 Roswell Road in Sandy Springs, Georgia, a newly incorporated Atlanta suburb, Transwestern announced Tuesday.
Representing the seller, a private investor, in the transaction were Transwestern’s managing director Kevin Markwordt and vice president Todd Syprett. The purchase price was $5.4 million, or $92 per square foot.
"This transaction represented a true win-win for the seller and buyer," Markwordt said. "SugarOak acquired a well-located, stabilized asset with excellent cash flow, and the seller cashed in on another great investment."
Roswell North, constructed in 1986, is a 94 percent occupied, three-story Class B building, located right off State Route 400 with easy accessibility to and from the affluent surrounding neighborhoods of Alpharetta, Dunwoody, East Cobb and Rosewell. The property’s assets include functional, affordable office space with covered parking.
The property is within the Central Perimeter submarket, which includes the largest concentration of commercial and medical real estate in the Southeast: 34 million square feet of office, 6.6 million square feet of retail and 3.3 million square feet of health care. Its tenants include UPS, Cox Enterprises, State Farm, Arby's, Auto Trader, Newell Rubbermaid and the future Mercedes-Benz headquarters.
Based in Atlanta with offices in Miami, Fort Lauderdale and Orlando, Transwestern's Southeast ISG has a strong track record in investment banking expertise, local market knowledge and proven transaction execution.
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