Historical Office Sale Listing - AirTran Airways

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AirTran Airways

5230 Clipper Drive, Atlanta, GA 30349

N/A

50,000 SF | Office

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Office Property - Off Market

Price:
N/A
Building Size:
50,000 SF
Property Type:
Office
Property Sub-type:
Office Building
Additional Sub-types:
Institutional/
Governmental
Office-Business Park
Office-R&D
Property Use Type:
Net Lease Investment with
10+ years left on lease
Cap Rate:
8%
Occupancy:
100%
No. Stories:
1
Building Class:
A
Tenancy:
Single
Property on Ground Lease?:
Yes
Year Built:
2009
Lot Size:
5.47 AC
Listing ID
15998734
Last Updated
over 1 year ago

Highlights

  • Excellent Long Term Investment with Growing and Stable Company
  • 26-Year Double Net Lease with Limited Landlord Responsibility
  • Rental Increases Throughout The Term Provide Increasing Cash Flow
  • Build-To-Suit Facility in a Beautiful Office Park Location
  • Ideal Sub-Market Location in an Area of Airline, Hotel and Service Operations
  • Quality Tilt-Up Modern Construction With Advanced Design & Engineering

Description

This beautiful new 50,000 square foot build-to-suit training facility is located adjacent to the busiest airport in the world, Atlanta's Hartsfield International. Built with a contemporary design, this single story building has parking surrounding the entire structure providing easy access for the staff and visitors. Immediate freeway access is a key feature of the location as is the proximity to Hartsfield for Airtran personnel. Primarily consisting of office/classroom space it will be utilized as a flight attendant training center. This area is becoming a center of airline activity with a major Delta facility nearby and a Boeing/Alteon flight simulator facility directly across the street.

Airtran Airways burst onto the air travel scene in 1994 and has found a clear niche providing low-cost air travel and offers over 750 flights daily with hubs in Atlanta and Orlando. This new office building will be ready for occupancy in January, 2009 and a Double Net 26-year lease will commence at that time. Nine percent increases take effect every four years, so good continuing upside exists for the investor.

The land is owned by the Atlanta-Hartsfield Airport Authority and has provided a 36-year ground lease to the development of the facility.

Hartsfield-Jackson Atlanta International Airport (ATL), known locally as Atlanta Airport, Hartsfield Airport and Hartsfield-Jackson, is located seven miles (11 km) south of the central business district of Atlanta, Georgia, United States. It is the world' s busiest airport by passenger traffic as well as landings and take-offs. The airport is the primary hub of Delta Air Lines, GeorgiaSkies, AirTran Airways, Delta Connection under the Shuttle America name, and Delta Connection partner Atlantic Southeast Airlines; the Delta hub is the world' s largest airline hub. Delta Air Lines flew 56 percent of passengers from the airport in 2007, AirTran flew 19 percent, and Atlantic Southeast Airlines flew 12 percent. The airport has 196 gates.

Hartsfield-Jackson held its ranking as the world's busiest airport in 2007, both in terms of passengers and number of flights, by accommodating 89.4 million passengers and 994,346 flights respectively.

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Created 11/21/2008