Lincoln Property Company Southeast (Lincoln) recently brokered the sale of 5865 North Point Parkway, a 25,000 square-foot office building in Alpharetta owned by Rolta International for $4.5 million. Lincoln’s Jeff Henson and George Gwaltney represented the owner.
Infotech Prism bought 5865 North Point Parkway for $175 per square-foot. Wes Allen with McWhirter realty Parners, LLC represented the buyer. Rolta will remain a tenant in the building, leasing 8,000 square-feet. Infotech will occupy a portion of the building and plans to lease out the first floor.
“The supply and demand dynamic really helped the sale, as well as increased construction costs making it unjustifiable for most tenants to build their own building,” Henson said. “This property goes to show that users are willing to pay a premium for nicer, well located buildings.”
5865 North Point Parkway is a three-story office building situated in close proximity to a wide variety of restaurants, shopping centers, banks and hotels. It offers prominent monument and main building signage, along with ample parking and a mixture of functional floor plans. The building has updated finishes throughout. Alpharetta is located in the booming North Fulton submarket of Atlanta.
About Lincoln Property Company
Dallas-based Lincoln Property Company is one of the nation’s largest diversified commercial real estate companies, employing over 6,800 people in 32 states and 10 countries in Europe. Since its inception in 1965, Lincoln has developed over 250 million square feet of office, industrial, and retail projects as well as 209,000 apartment units. Stemming from its development and ownership background, Lincoln's operating platform seamlessly integrates its various service lines, provides for consistent and measureable performance and utilizes cutting-edge technology over its 350+ million square feet of managed assets. For more information on the Southeast Region of Lincoln Property Company, please visit lpcsoutheast.com.