Area brokers in a position to know tell GlobeSt.com Spohn plans to break ground on One Wisteria Square later this month. The 45,000-sf, three-story structure already is preleased to Nanston Dental Group (14,000 sf) and Rector & Moffitt PC accountants of Stone Mountain.
The average asking rent range at One Wisteria Square is $22 to $24 per sf. That range is equal to the asking rents at Buckhead, the metro area's most expensive office district. Office rents at existing and older buildings in Snellville are $9 to $12 per sf, area brokers tell GlobeSt.com.
Spohn also plans to develop 206 loft apartments above the ground-floor office and retail planned for Wisteria Square. The most expensive loft will sell for $500,000. The same apartment home in Buckhead would go for $1.5 million, a Buckhead residential broker tells GlobeSt.com.
Spohn's Wisteria Square project coincides with the completion of Snellville's $10-million, 33,277-sf City Hall and the 11,500-sf Senior Center across the street from the existing City Hall. Wisteria Square will be one block from City Hall.
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