By Balazs Szekely, Associate Editor
Virginia-based SugarOak Holdings is feeling right at home in Atlanta. The private real estate firm expanded its office portfolio by the acquisition of the Roswell North office building in Sandy Springs, the company’s seventh investment in the metro after Spalding Exchange Office Park, Crossings Center Iv and VI in Norcross; Pavilion Center in Roswell; Three Oaks Office Park in Lawrenceville; and Hightower Centre in Sandy Springs.
Managing Director Kevin Markwordt and Vice President Todd Syprett of Transwestern’s Southeast Investment Services Group brokered the $5.4 million transaction representing the seller, a private investor of undisclosed identity. The sale price translates into $92 per square foot.
The 58,529-square-foot office building is located at 8010 Roswell Road in the Sandy Springs suburb. Built in 1986, the three-story, Class B building is 94 percent occupied and it features a covered parking and benefits from easy accessibility from the Sandy Springs, Roswell, East Cobb, Dunwoody and Alpharetta via State Route 400. The surrounding Central Perimeter submarket 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 healthcare. The area is home to UPS, Cox Enterprises, State Farm, Arby’s, Auto Trader, Newell Rubbermaid and the future headquarters of German carmaker Mercedes-Benz.
Photo credit: Transwestern