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3225 Westech Dr 71,620 SF Office Building Peachtree Corners, GA 30092 For Sale
INVESTMENT HIGHLIGHTS
- Lease Structure: Absolute Net lease with annual increases (CPI 2% floor 5% ceiling) that does not have any renewal options remaining for the tenant.
- Mission-Critical Property: $700,000 of Tenant Improvements have been allocated for a roof replacement and other leasehold improvements.
- Low Office Vacancy Submarket: Among the lowest office vacancies, making it one of the most attractive submarkets.
- Tenant: The tenant has occupied the existing facility since 2009 and just exercised a 10-year renewal.
- Location and Mark-to-Market Rent: Situated in the Atlanta Tech Park, which is the centerpiece of Atlanta’s thriving tech and R&D market.
EXECUTIVE SUMMARY
The building is in good condition and $700,000 of Tenant Improvements have been allocated for a roof replacement and other leasehold improvements (office upgrades and parking lot improvements) as part of the recently executed lease extension. There is an Absolute Net lease with annual increases (CPI 2% floor 5% ceiling) that does not have any renewal options remaining for the tenant. The landlord will be able to take advantage of mark-to-market rent at the end of the term. The tenant has occupied the existing facility since 2009 and just exercised a 10-year renewal.
PROPERTY FACTS
Sale Type
Investment
Sale Condition
Build to Suit
Property Type
Office
Building Size
71,620 SF
Building Class
B
Year Built
2000
NOI
$939,797
Tenancy
Single
Building Height
2 Stories
Typical Floor Size
35,810 SF
Building FAR
0.14
Lot Size
12.06 AC
Zoning
M1 - Light Industrial
Parking
249 Spaces (3.48 Spaces per 1,000 SF Leased)
AMENITIES
- Natural Light
- Partitioned Offices
- Air Conditioning
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PROPERTY TAXES
| Parcel Number | 6-284-060 | Improvements Assessment | $1,521,040 |
| Land Assessment | $1,502,960 | Total Assessment | $3,024,000 |
PROPERTY TAXES
Parcel Number
6-284-060
Land Assessment
$1,502,960
Improvements Assessment
$1,521,040
Total Assessment
$3,024,000
CONTACTS
-
Jonathan Wolfe -
Phil DiGennaro -
Adam English -
Blake Micholas -
Stream Capital Partners
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3225 Westech Dr
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