X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

ATLANTA-In an expansion mode, locally based N2 Broadband is adding 10,000 sf to its existing 19,915 sf at the 100%-leased, 50,443-sf 4500 River Green Parkway complex in suburban Duluth, GA.

The value of the transaction wasn’t disclosed in a prepared statement from Colliers Cauble & Co., the Atlanta-based brokerage that represented N2 in negotiations with Sentinel Real Estate Corp., the property’s Atlanta-based owner.

But area brokers tell GlobeSt. the estimated value of the new five-year-lease is $2.24 million, based on an estimated $15 per s.f. rent. Quoted average office rents in the Northeast submarket are $16.85 per sf.

“This transaction gives N2 Broadband the expansion space it needs, while allowing the company to keep intact its existing networks and infrastructure,” Colliers Cauble broker Rob Claxton says in a prepared statement. “It also gives Sentinel a thriving tenant with no marketing downtime. In the current suburban office market, that’s not easy to find.”

Colliers broker Russ Jobson worked with Claxton on the N2 deal. Chet Lacy at Richard Bowers & Co. negotiated for Sentinel.

N2 Broadband provides digital media distribution and management solutions for video-on-demand and other on-demand television services.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.