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Tioga Capital has secured a 27,000-square-foot lease with infrastructure contractor Plateau Excavation, at Barrett Summit, a three-building, 180,000-square-foot inventive workplace property in Kennesaw, Ga.
Lincoln Property Co. Vice Presidents Matt Fergus and Seabie Hickson oversee leasing on the property and secured the tenant. NAI Brannen Goddard’s Managing Director David Dixon represented Plateau Excavation within the settlement.
The proprietor bought the property in 2022 for $11 million and financed the acquisition with a $14.8 million mortgage from Georgia Banking Co., in accordance with CommercialEdge.
Barrett Summit has floorplans starting from 25,000 to 40,000 sq. ft and options 912 parking areas. Different tenants on the property embrace Previous Republic Aerospace and Excel Electrical Applied sciences, CommercialEdge information exhibits. Possession has not too long ago applied varied upgrades to the properties.
Situated at 1990 Vaughn Street NW, the 14.6-acre property is near Freeway 41 and Interstate 75, some 5 miles from Marietta and roughly 24 miles from Atlanta. It is usually adjoining to the Cobb County Worldwide Airport and close to the City Heart at Cobb procuring middle.
As of August, Atlanta’s workplace emptiness charge stood at 18.7 %, above the nationwide charge of 17.5 %, a current CommercialEdge report exhibits. The typical itemizing charge within the metro was $31.01, in accordance with the identical supply.
One of many largest current leases within the metro space was Morgan Stanley’s 100,000-square-foot enlargement in Alpharetta, Ga., bringing the agency’s footprint to a complete of 216,000 sq. ft.
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