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2055 Sugarloaf CirDuluth, GA 30097
Overlook at Sugarloaf
Asset ClassOffice
Land: 7.55 AcresSquare Feet: 157,686% Leased: 95%Access Data Room
ASSUMABLE DEBT | 4.45% | Atlanta
overview of deal

Overview

Transwestern's Southeast Investment Services Group and Merit Realty Partners are pleased to exclusively offer for sale Overlook at Sugarloaf, a 157,686 SF suburban trophy asset situated in the rapidly urbanizing Sugarloaf micro-market, the premier office location in Atlanta's Northeast submarket.

 

The Property is 95% leased, with two new leases recently signed, which further enhances its appeal. This leasing success translates to a strong and consistent cash flow. Futhermore, notable tenants include Fox Factory, Inc., recognized as one of the 2021 Fortune 100 fastest growing companies and Waystar, consistently ranked as a top revenue management company for hospitals.

 

The Property is surrounded by some of the most affluent suburban communities in Atlanta including prestigious Sugarloaf Country Club (TPC Sugarloaf) and is minutes away from a number of superior amenities for entertainment, dining, shopping, and sports. Additionally, the Property is adjacent to the Gas South District, who recently completed a $100 million dollar renovation and expansion with future plans for a mixed-use entertainment development.

 

The Northeast submarket, which has experienced the second-highest year-over-year rental rate growth, enjoys a prime location at the heart of one of the fastest-growing counties in the United States. It has consistently been a leader in Atlanta's rapid population growth. This area stands out with its highly educated residents, robust school systems, and a variety of appealing residential communities nearby, making it a top choice for corporate office locations in Atlanta.

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Investment Highlights

  • Attractive Assumable, Non-CMBS, Debt At 4.45%: Currently 95% occupied, the Property has seen recent leasing success through COVID and provides investors long term stability with ±4.0 years WALT remaining.
  • Stabilized Asset Providing Long Term Stability At 95% Leased With ±4.0 Years WALT Remaining: Currently 95% occupied, the Property has seen recent leasing success through COVID and provides investors long term stability with ±4.0 years WALT remaining.
  • Institutional Quality Suburban Trophy Asset: Efficient floorplates, abundant parking, dual lobbies, loading dock freight elevator and parallel frontage exposure on main thoroughfares add to the Property’s suburban trophy asset status.
  • Extremely Well-Maintained Property With Recent Upgrades: The Property has been impeccably maintained with recent investment in a new fitness center and lobby upgrades, appealing to corporate users in a time of flight to quality.
  • Adjacent To Gas South Mixed-Use Development & Major Demand Driver: A 118-acre multipurpose campus featuring an arena, theater and convention center hosting +890 events and over 1,000,000 attendees annually. Recently completed $100 million dollar expansion and renovation to the convention center and a new Westin headquarter style hotel under construction with plans for a mixed-use entertainment district to be announced shortly.
  • High-Performing Sugarloaf Micro-Market: Historically one of the tightest micro-markets in Atlanta averaging 90% occupancy over the last decade and poised for continued rent growth.
  • Prime Sugarloaf Location: Immediate access to two major I-85 Interchanges, Sugarloaf Parkway and proximate to prestigious Sugarloaf Country Club (TPC Sugarloaf) a renowned gated community and host to a number of major professional golf tournaments.
  • Desirable Northeast Atlanta Demographics: Located in Gwinnett County, Georgia’s second most populated county and projected to surpass Fulton County in population by 2040. Gwinnett’s growth can be attributed to its pro-business environment, premier educational system and wide talent pool.
  • High Walkability Score: Direct access to Gas South District and a plethora of restaurants, hotel and retail.
  • Below Replacement Cost: At a time of rising construction costs, the Property is offered at a significant discount to replacement cost.
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2055 Sugarloaf CirDuluth, GA 30097

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Listing provided by Revere CRE