Avison Young Arranges Sale of $19 Million Office Park Near Atlanta

6/9/17

3100 Breckinridge in Duluth Features Over 250,000 SF of Rentable Space

Avison Young announced today that it has arranged the sale of a Class A office park in suburban Atlanta.

TerraCap Management, LLC purchased the complex at 3100 Breckinridge Blvd. in Duluth. The seller was HQ Capital Real Estate L.P. of New York on behalf of TRIUVA.

The office park features six single-story buildings and a 75,000-square-foot three-story executive building. The property contains just over 250,000 square feet on nearly 30 acres.

Overseeing the sale were Matt Tritschler and Steve Morgan, Principals at Avison Young; and Stephanie Marino, Senior Vice President of Avison Young.

“This office park attracted considerable interest from investors eager to invest in a Class A office park in an excellent location,” Tritschler said. “Everyone involved was very pleased with this sale.”

Said Steve Good, Director of Acquisitions for TerraCap Management: “We’re excited about the opportunity. We feel this acquisition fits well with our overall strategy but also compliments other holdings we have in the area.”

Developed from 1986 to 1990, the office park has been extremely well maintained and features attractive landscaping across the campus. It includes a small park area for tenants, as well as customized monument signage that provides a unified, sophisticated image throughout the property.

The office park features an excellent location -- 20 miles northeast of downtown Atlanta, 10 miles northeast of I-285, and just east of the interchange at I-85 and Pleasant Hill Road.

The property is situated within the new Gwinnett Place Opportunity Zone, which offers incentives to employers. It is also close to a number of outstanding neighborhoods, schools and amenities, including Sugarloaf Mills and Gwinnett Place Mall.

IBM is the office park’s largest tenant, leasing 50,000 square feet. The office park currently is 70 percent leased, but that number is expected to grow.

“This is a excellent time to be purchasing an office park in the Atlanta metro area,” Morgan said. “We’re seeing strong job growth and increased leasing activity throughout the area. There’s a lot to be excited about here.”

About Avison Young

Avison Young is the world’s fastest-growing commercial real estate services firm. Headquartered in Toronto, Canada.Avison Young is a collaborative, global firm owned and operated by its principals. Founded in 1978, the company comprises 2,400 real estate professionals in 79 offices, providing value-added, client-centric investment sales, leasing, advisory, management, financing and mortgage placement services to owners and occupiers of office, retail, industrial, multi-family and hospitality properties.

About HQ Capital

HQ Capital is a leading independent alternative investment manager with more than $11 billion in assets under management in private equity and real estate. The company invests in existing properties and real estate development projects throughout the United States, including multifamily, residential, office, industrial, retail, hotel and mixed-use properties. HQ Capital’s investments currently comprise more than 16 million square feet of commercial space and 67,000 residential units.

About TRIUVA

TRIUVA Kapitalverwaltungsgesellschaft mbH is a leading provider and manager of structured real estate products for institutional investors in Germany, with assets under management of around 10 billion Euro. TRIUVA initially purchased 3100 Breckinridge Blvd. in 2003.

About TerraCap

TerraCap Management, LLC is an alternative investment management company focused on value-add real estate acquisitions in the southeastern United States. TerraCap develops investment strategies based on market research and fact-based analysis on population growth, migratory trends, international home buying, and intrastate population movement. Please visit its website at  http://terracapmgmt.com.

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