Windward Concourse marks the first acquisition in the Atlantamarket for Charlotte-based Allegiance, which also owns the SunTrustBank Building in Macon, GA. The firm discovered the class A officepark, totaling 201,544 square feet on 13 acres, while bidding onanother local property, says Hunter Goodwin, director ofacquisitions with Allegiance.
"It's in one of the most affluent and newly developed submarketsin the Atlanta MSA," Goodwin tells GlobeSt.com. The buildings arecurrently 74% occupied, with several nationally recognized tenantsincluding Arrow Corp., Berkshire Hathaway and the University ofPhoenix, he says.
Asking rents at Windward Concourse are currently listed at$18.50 per square foot, well under the $20.34 average along Georgia400, according to Cushman & Wakefield. Overall office vacancywithin the corridor is 18%.
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
*May exclude premium content
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.
