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ATLANTA-Jackson Plaza, a three-building, class-A, 172,000-sf office property at 800 Oak Ridge Turnpike in Oak Ridge, TN is on the sales block for an asking price of $5.5 million. It is 43% leased, and the asking rental rate ranges from $12 per sf to $14 per sf.

The facility is the only class-A office property in Oak Ridge, 15 miles northwest of Knoxville. It was built in 1980. Its atrium, lobby and medical-tenant areas were recently renovated.

Kevin Markwordt, senior managing director, and Jon Kleinberg, vice president of Insignia/ESG’s Atlanta Capital Advisors are representing Chicago-based LaSalle Bank National Association in the sale.

Markwordt tells GlobeSt.com, “the offering price is 29% of the replacement cost,” and estimates it would cost $19 million to build a new, similar facility. He says Jackson Plaza is the only area facility that can offer up to 50,000 sf of contiguous space.

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