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2660 EastChase Ln
Montgomery, AL 36117
Building #1 · Office Property For Sale
Investment Highlights
- Significant In-Place Cash Flow
- Significant Population Growth
- Highly Walkable Amenity Base
- The Eastchase "Sanctuary"
Executive Summary
The institutional Capital Markets Group of Jones Lang Lasalle Americas, Inc. ("JLL") as an exclusive advisor, is pleased to present the opportunity to acquire Lakeview Center ("the Asset"), a four-story, boutique 99,336 SF Class A Office building situated on the southeast side of I-85 & Taylor Road interchange within the Eastchase & Wynlakes pocket of Montgomery. The Asset is 99% leased and has a weighted average lease term of 5.0 years.
Lakeview Center's location has significantly benefited from three main factors. First, the dynamic retail within Eastchase provides a walkable environment with a multitude of food and beverage options and hotel offerings for out-of-town visitors. Second, Lakeview Center is nestled next to Wynlakes Country Club, attracting decision-makers from one of Montgomery's affluent neighborhoods with limited product built post-2000 to compete with the Asset. Third, population has exploded to the east around Auburn University which is the fastest growing city in Alabama since 2015. Lakeview is the closest office node and best option to attract tenants coming out of Auburn.
Lakeview Center's tenancy has been very sticky with an average weighted tenure of 17 years. This four-story asset offers strong in-place cash flow through its sticky tenant base. A "collector" of great office assets has the opportunity to acquire Lakeview Center, positioned in Montgomery's most dynamic and amenity-rich micro market and benefitting from durable cash flow supported by long-term, high-quality tenants.
Lakeview Center's location has significantly benefited from three main factors. First, the dynamic retail within Eastchase provides a walkable environment with a multitude of food and beverage options and hotel offerings for out-of-town visitors. Second, Lakeview Center is nestled next to Wynlakes Country Club, attracting decision-makers from one of Montgomery's affluent neighborhoods with limited product built post-2000 to compete with the Asset. Third, population has exploded to the east around Auburn University which is the fastest growing city in Alabama since 2015. Lakeview is the closest office node and best option to attract tenants coming out of Auburn.
Lakeview Center's tenancy has been very sticky with an average weighted tenure of 17 years. This four-story asset offers strong in-place cash flow through its sticky tenant base. A "collector" of great office assets has the opportunity to acquire Lakeview Center, positioned in Montgomery's most dynamic and amenity-rich micro market and benefitting from durable cash flow supported by long-term, high-quality tenants.
Property Facts
Sale Type
Investment
Property Type
Office
Building Size
99,336 SF
Building Class
A
LoopNet Rating
4 Star
Year Built
2004
Price
$17,500,000
Price Per SF
$176.17
Percent Leased
98%
Tenancy
Multiple
Building Height
4 Stories
Typical Floor Size
25,000 SF
Building FAR
0.37
Lot Size
6.10 AC
Parking
400 Spaces (4.03 Spaces per 1,000 SF Leased)
Amenities
- Property Manager on Site
- Air Conditioning
Property Taxes
| Parcel Number | 09-05-21-1-000-001.034 | Improvements Assessment | $5,752,260 |
| Land Assessment | $399,880 | Total Assessment | $6,152,140 |
Property Taxes
Parcel Number
09-05-21-1-000-001.034
Land Assessment
$399,880
Improvements Assessment
$5,752,260
Total Assessment
$6,152,140
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