{"id":1004332439,"date":"2019-06-21T03:58:54","date_gmt":"2019-06-21T11:58:54","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004332439"},"modified":"2019-06-21T03:58:54","modified_gmt":"2019-06-21T11:58:54","slug":"velocis-completes-4th-atlanta-office-buy","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/velocis-completes-4th-atlanta-office-buy\/","title":{"rendered":"Velocis Completes 4th Atlanta Office Buy"},"content":{"rendered":"<div id=\"attachment_1004332445\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/06\/Sugarloaf-Corporate-Center-e1561115992750.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004332445\" data-attachment-id=\"1004332445\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/velocis-completes-4th-atlanta-office-buy\/sugarloaf-corporate-center\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/06\/Sugarloaf-Corporate-Center-e1561115992750.jpg\" data-orig-size=\"640,480\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Sugarloaf Corporate Center\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Sugarloaf Corporate Center&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/06\/Sugarloaf-Corporate-Center-e1561115992750.jpg?w=640\" class=\"wp-image-1004332445 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/06\/Sugarloaf-Corporate-Center-e1561115992750.jpg\" alt=\"Sugarloaf Corporate Center\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/06\/Sugarloaf-Corporate-Center-e1561115992750.jpg 640w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/06\/Sugarloaf-Corporate-Center-e1561115992750.jpg?resize=300,225 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004332445\" class=\"wp-caption-text\">Sugarloaf Corporate Center. <em>Image courtesy of Yardi Matrix<\/em><\/p><\/div>\n<p>Velocis has purchased Sugarloaf Corporate Center, a three-building, 256,180-square-foot office park in Duluth, Ga. AEW Capital Management sold the asset that had been in their possession since 2015. At the time, the property traded for $37.6 million, per Yardi Matrix data.&nbsp;<\/p>\n<p>Located at 2160-2180 Satellite Blvd., the complex is 4.4 miles southeast of downtown Duluth, right off Interstate 85. Hartsfield-Jackson Atlanta International Airport is within a 40-minute drive. The property is on a 20-acre site, within a 62-acre master-planned office park in the heart of Gwinnett County. Completed between 1998 and 2001, the Class A four-story buildings are 98 percent leased to 30 tenants including Regus, Wells Fargo and The John Maxwell Co.<\/p>\n<p>The new owner intends to implement significant upgrades at the property. The planned enhancements include improving the outdoor amenity area, adding on-site food service and replacing the roof for one of the buildings.<\/p>\n<p>According to Velocis, Sugarloaf Corporate Center provides a strong and secure cash-flow at an 8.8 percent going-in cap rate. The acquisition marks the buyer&#8217;s fourth investment in the Atlanta metro area. Its current Atlanta portfolio also includes Parkway at Avalon, a two-building office complex in Alpharetta, Ga. Last October, the fund manager <a href=\"https:\/\/www.commercialsearch.com\/news\/simpson-org-snags-ga-office-campus\/\">sold a 152,935-square-foot office building<\/a> located in Alpharetta\u2019s Royal 400 Office Park.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The fund manager intends to implement a series of upgrades at the three-building Sugarloaf Corporate Center located in the heart of Gwinnett County.<\/p>\n","protected":false},"author":870,"featured_media":1004332445,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1489,21743,21742,21747],"tags":[33758,36351,33083],"class_list":["post-1004332439","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-atlanta","category-deals","category-latest","category-office","tag-aew-capital-management","tag-capital-improvement","tag-velocis"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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