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ROSWELL, GA-Small, well-maintained office buildings continue to be sold at top-of-the-line numbers in metro Atlanta. The latest offering is the single-story, two-year-old, 72,020-sf Offices at King’s Landing, 20 miles north of Downtown Atlanta in the North Fulton County submarket. The asking price: $7.95 million or $110 per sf. The going-in cap rate: 10%-plus.

Among the tenants in the 79%-occupied building are Earth Tech Inc., a Tyco International subsidiary; Lexmark International; and Amano Cincinnati. James P. Cate and Cameron Kennedy in the Atlanta investment services group of Julien J. Studley Inc. are marketing the property.

The 12.6 million-sf GA 400 North submarket, where the property is located, has a second-quarter overall occupancy level of 83.31% and net absorption of only 230,850 sf, according to the latest research by Atlanta-based Richard Bowers & Co. Year-to-date absorption is 307,146 sf.

There is 2.1 million sf of product available. The average asking rent among all three classes of space is $20.90 per sf.

In the 8.97 million-sf class A segment alone, occupancy is 84.57%; vacant space totals 1.38 million sf; and the average asking rent is $22.14 per sf.

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