Two Office Condo Sales in Submarket with Unprecedented Vacancy Rates
Lavista Associates, Inc. is pleased to announce the sale of 2 office condos in the Northeast Atlanta Office Condo Market. Coming at a time when vacancies in the submarket are climbing to nearly 38% with over 1.6 million square feet of available space in inventory, these sales speak promise to a challenging marketplace. Located in Village Grove Office Park at 4320 Suwanee Dam Road in Suwanee, Georgia, the Class “A” multi-tenant office condos are adjacent to residential developments and ideal for private business practices.
Suite 1800 was the first to close, turning over 3,362 square feet to a local dental practice, with Suite 2600 following shortly thereafter, bringing a financial planning firm to the neighborhood. These two sales support the belief that, even in this time of economic uncertainty, demand is still strong for properly priced, high-quality office condo projects.
David Pope and Tom Cooksey of Lavista Associates, Inc. represented the Seller in both transactions, Riverside Management Corporation for Suite 1800 and Seagraves Holdings, LLC for Suite 2600.
David Pope commented, “the two quick sales from within Village Grove Office Park are proof that with the right marketing strategy there is still significant demand to be found for nice office condos in Northeast Atlanta.”
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