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| 5925 Cabot Parkway, Forsyth County, GA |
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| Jason Schrago |
A
local real estate development and investment firm, The Woodbery Group,
purchased the building from JM Family Enterprises for $10.75 million.
The
building was fully leased by JM Family Enterprises at the time of transaction.
Built in 1999 and fully renovated in 2007, 5925 Cabot
Parkway features 48 private offices, approximately 130 workstations, 11
conference rooms, two lounge areas and a full-service catering kitchen.
The
class B building also offers several fully furnished plug and play
opportunities and includes a 21,000-square-foot data center with 3 Megawatts of
power with built-in redundancy.
Datascan,
a subsidiary of JM Family Enterprises, relocated to new and owned office space
in June 2018 at Alpharetta City Center. The data center function remains at
5925 Cabot Parkway.
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| Frank Clementi |
“We were pleased to conduct this value-add transaction on
behalf of JM Family Enterprises that provides them flexibility with their
ongoing corporate data center function at 5925 Cabot Parkway,” said Schrago.
“The
building offers significant potential for income growth, with the proximity to
a highly skilled labor force signaling a bright future for the new owners.”
Clementi
added, “As a data center, this property offers 2N+1 redundancy and abundant
power. The Atlanta data center market is gaining world-wide attention for its
low cost of power and many fiber carriers.
"Additionally,
fueling this growth is the recent passing of House Bill 696, offering buyers of
data centers tax exemption on equipment purchases and power usage.”
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| Tom Kirbo |
According to NKF Research, metro Atlanta’s office market
continues to display strong fundamentals despite a recent slowdown in job
growth.
Overall asking rents in Forsyth County have steadily climbed to nearly $25 per square foot, with leasing momentum expected to remain strong through 2019.
Overall asking rents in Forsyth County have steadily climbed to nearly $25 per square foot, with leasing momentum expected to remain strong through 2019.
CONTACT
Nick Banaszak
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