Search
 

Sugarloaf Class A Office Winning With Investors

ATLANTA—“The combination of institutional-quality assets and strong, experienced sponsorship generated significant lender interest.”

By Jennifer LeClaire | jenniferleclaire | | Updated on August 15, 2016
Sugarloaf VI and VII are located in the Business Park at Sugarloaf, a master planned park of about 500,000 square feet of class A office space in Gwinnett County. Sugarloaf VI and VII are located in the Business Park at Sugarloaf, a master planned park of about 500,000 square feet of class A office space in Gwinnett County.
ATLANTA—Sugarloaf VI and VII, two class A  office  buildings in the Atlanta suburb of Duluth, GA, have trade hands. The  office buildings span 161,183 square feet. The  HFF  managing director  Ralph Smalley , senior managing director  Ryan Clutter , and associate director  Kelly Kuykendall , represented the seller. The firm also found the buyer,  Ter r aCap Management Corp . Sugarloaf VI and VII are located in the Business Park at Sugarloaf, a master planned park of about 500,000 square feet of class A  office space  in Gwinnett County. The park is across from the Sugarloaf Country Club, within one mile of Interstate 85, and 12 miles north of Interstate 285 in northeast Atlanta. “Dynamic fundamentals in the Sugarloaf  office  submarket continue to attract investors looking for quality  office  product with attractive going-in and overall returns,” Smalley tells GlobeSt.com. Built in 2005, Sugarloaf VI and VII are 94.4%  leased to tenants including Horizon Software, Asbury Automotive Group, Gallagher Bassett Services and Wiss Janney Elstner Associates. HFF also arranged the 66-month, floating-rate acquisition loan on behalf of the new owner through  Principal Global Investors . HFF managing director  Greg Shapiro  led the debt placement team. “The combination of institutional-quality assets and strong, experienced sponsorship generated significant lender interest,” Shapiro tells GlobeSt.com. “In turn, we saw very competitive terms on the financing.” Atlanta suburbs have been getting some office investor love lately. Oakbrook North, which includes 11 buildings on 50 acres along Oakbrook Parkway in Norcross, GA, recently traded for $36.6 million.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 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.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.