ATLANTA, GA– Bull Realty has brokered the $4.851 million sale of Roswell Summit (top left photo) a 127,342-square-foot office complex in the Roswell, Ga., sub-market of metro Atlanta.
Sean Williams (middle right photo), vice president, corporate office services, with Bull Realty, represented the buyer, Emcade Acquisitions.
Kevin Markwordt ofTranswestern represented the seller, CSMC 2006-C5 Holcomb Office Limited Partnership. The estimated cap rate on the transaction is 11.8 percent.
Emcade Acquisitions also has awarded Bull Realty the leasing assignment for Roswell Summit, making the property one of several leasing assignments Bull Realty handles for Emcade.
The property, located near Georgia 400 at 1080 HolcombBridge Road, currently has a vacancy rate of nearly 50 percent. Emcade willinvest in interior and exterior upgrades and offer enticing rental rates and terms. Roswell Summit was constructed in the mid-1980s and features two three-story buildings, each approximately 63,500 square feet in size.
“This represents an exciting opportunity for tenants, as the new landlord has a much lower basis and is able to offer very competitive rental rates,” Williams said. “Our client has a great track record of improving facilities and is ready to combine physical improvements with an enhanced management and tenant rep incentives to drive occupancies at Roswell Summit.”
Contacts
Stephen Ursery
Wilbert News Strategies LLC
404-965-5026
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