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Phoenix BlvdCollege Park, GA 30349
Phoenix Park Portfolio
Asset ClassOffice
Net Operating Income$2.6 Million
Square Feet: 333,767Cap Rate: 11%Occupancy: 76%Access Data Room
Opportunity to acquire scale at a low basis & double digit yield in one of Atlanta's most resilient submarkets
overview of deal

Overview

Newmark is pleased to present the opportunity to acquire Phoenix Business Park, comprised of 8 office/flex/GSA buildings that span 333,767 SF across a combined ~22 acres (the “Portfolio”), situated just south of the regions’ largest economic driver and busiest airport in the world, Atlanta’s Hartsfield-Jackson International Airport.

 

The airport submarket is has flourished post covid due to rents being well below the metro average, stable market vacancy of 9% , and heavy corporate user presence.

 

This opportunity provides investors with predictable cash flow supported by a diverse tenant mix at below market rents with a well balance expiration schedule, providing downside protection and upside potential with above market returns.

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Investment Highlights

  • Accretive seller financing available
  • High Yield Low Basis Play – 11% cap @ $71 PSF w/ 3.2 Yr Walt
  • Adjacent to busiest airport in the world
  • 60% lower avg. TIA vs all other submarkets
  • 9% office submarket vacancy
  • Recent direct sales comps @ $115 PSF
  • 54% of the rent roll is government or healthcare & related industries

 

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Phoenix BlvdCollege Park, GA 30349
Atlanta Hartsfield-Jackson International Airport

Investment Advisors

Andrew PorteousSenior Managing Director5125172939andrew.porteous@nmrk.com
Chris McColpinSenior Managing Director214 597 5210chris.mccolpin@nmrk.com

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