Strategic Office Complex Trades in Strengthening Duluth Market

ATLANTA—Sugarloaf Business Center has traded hands. IG3 Real Estate snapped up the 113,016-square-foot office complex in Duluth, GA for $13.5 million.

All told, the Miami-based real estate investment and asset management firm has invested over $100 million worth of Georgia commercial real estate assets in the past two years. Duluth has seen an uptick in its office market in recent weeks.

“The Greater Atlanta office market is already one of the nation’s strongest, with 16 Fortune 500 companies based there—behind only New York and Houston—but there is also significant potential upside for investors and developers as we are in the absorption stage of the inventory cycle,” IG3 principal Carlos Imery, tells GlobeSt.com. “The area continues to attract new educated professionals and has an evolving tech scene that is on par with the top East Coast tech markets. Residential development might be slowing down, but demand for new office product remains strong.”