Worthing bought the 11.6-acre property, about 20 miles south of Downtown Atlanta, from Frank and Mary Jane Sams Bentz for an undisclosed amount. However, area land brokers who have done deals in the Clarkston submarket, tell GlobeSt.com the contract price is probably around $25,000 per acre (57 cents per sf) or an estimated total $300,000.
Originally a 350-acre spread, the size of Sams Farm was gradually reduced over the years by takings from the Georgia Department of Transportation for new highway construction. Five Oaks is expected to be ready for occupancy in March 2005, company officials say. The projected average asking base rent is $1,000 per month.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
