11330 Lakefield Dr - Office FOR SALE


Duluth, GA 30097
$7,190,000 USD
404-504-5920
11330 Lakefield Dr, Duluth, GA for Sale
$7,190,000 USD
Office - FOR SALE
1/12
null | Request Cap Rate

11330 Lakefield Dr
Duluth, GA 30097


HIGHLIGHTS

  • Tremendous Location
  • Income Producing Owner-User Opportunity
  • Ideal Corporate Headquarters

OVERVIEW

CBRE is pleased to present the opportunity to acquire Covenant I, a 49,618 sq. ft. office building in Johns Creek, GA (“The Offering”). The building features 39,668 sq. ft. available for owner occupancy. Covenant I represents an opportunity for an owner-user to immediately occupy nearly 40,000 sq. ft. of extremely well-maintained office space in the heart of Johns Creek. In addition to high quality finishes, Covenant I offers an owner-user $204,000 of annual income to offset occupancy costs. The 9,950 sq. ft. suite is leased to Piedmont Bank at a rate of $20.55 per sq. ft. Full Service Gross through July 2031 with a 60-month renewal option and 2.75% annual escalators. Covenant I has been exceptionally well-maintained, with over $1.2-million in recent capital expenditures. Recent capital expenditures include a new roof and HVAC replacement in 2019, an elevator modernization in 2021, as well as recent upgrades to the lobby, common areas, and restrooms. In addition to easy access via Medlock Bridge Rd, Covenant I is immediately adjacent to Creekside Park, a 21-acre master planned development to include active and passive park amenities, and will connect the asset to Johns Creek’s Town Center.

FOR SALE DETAILS

PRICE

$7,190,000 USD

PRICE/SF

$145 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Owner User

BUILDING DETAILS

PROPERTY NAME

Covenant Building I

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

B

YEAR BUILT

1997

SPRINKLERS

-

PARKING SPACES

195

LAND DETAILS

LAND ACRES

4.64 AC

LAND SF

202,118 SF

ZONING

OI

APN/PARCEL ID

11-0990-0374-013-0

ASK ABOUT THIS PROPERTY

Tony SwannCBREMore Info
404-504-5920

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Tony SwannCBREMore Info
404-504-5920

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.