Atlanta Business Park Trades for $3.2M
The 45,960-square-foot multi-tenant asset was 95 percent leased at the time of the transaction. Earlier this year, it was subject to a refinancing deal which included several industrial assets.
By Tudor Scolca
Five Points Business Center
NAI Brannen Goddard brokered the sale of a mixed-use property located in Smyrna, Ga., for $3.2 million. IC BP III Holdings XIX sold the property for $70.7 per square foot. NAI Managing Director David Beak marketed the single-story building known as Five Points Business Center on behalf of the seller. Earlier this year, HFF secured $22.5 million in refinancing for an Atlanta industrial portfolio which included the asset.
Five Points Business Center is located at 1600 Roswell St. in downtown Smyrna, Ga. The 45,960-square-foot business park is nearby multiple residential communities. According to Yardi Matrix data, there are approximately 95,520 people living within a three-mile radius. Atlanta’s Perimeter is 10 minutes away, with interstates 75 and 285 providing access around the metropolitan area. Downtown Atlanta is located about 25 minutes away.
The property was 95 percent leased at the time of the transaction. The multi-tenant business park is occupied by Crossfit South Cobb, Traditional Karate Atlanta, The Grateful Bread Co., The Bountiful Basket Catering, Crush Customs, among other tenants.
Image courtesy of NAI Brannen Goddard
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