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Employment figures continue to increase, growing 2.5% annually since January 2018, combined with a decrease in deliveries, resulting in increased effective rents to $1,088, a 1.5% increase since Q1 2018.
“Once clients understand the math and the process, sale leasebacks are something they jump at,” said one expert at GlobeSt.com's 17th Annual Net Lease Event.
The properties at 800 & 900 North Point Parkway (“800 & 900”) and 3905 Brookside Parkway in the Atlanta suburb of Alpharetta, total approximately 380,000 square feet of Class A space.
Company officials say the CH2 data center is designed to leverage an interconnected campus environment with plans to deliver connection via redundant high-count dark fiber to CoreSite's CH1 data center, the company's key interconnection hub in Chicago.
“Investors responded very favorably to this offering, given the lack of multi-housing opportunities on the waterfront and the building's high-quality construction,” HFF's Cruz states.