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|Building Area Net||
|Call for Offers||2020-05-05|
Jones Lang LaSalle Americas, Inc (“JLL”) is pleased to present the unique opportunity to purchase Apple Valley a 72,702 SF in-fill creative office property. The offering provides a rare blend of stability coupled with value creation with 7.1 Yrs of WALT and a current occupancy of 79%. Originally built in 1961, Apple Valley was redeveloped in 2017 creating one of Atlanta’s most unique office environments. Located just minutes north of the Buckhead Business District, the Property is in Brookhaven Village creating an amenity rich walkable environment that has few rivals. While the neighboring retail amenities offer a wide variety of restaurant options, Apple Valley is home to Arnette’s Chop Shop which has become one of Atlanta’s premier restaurant destinations since its opening. In addition to the walkable retail amenities, Apple Valley’s location also provides excellent access to the greater Atlanta metro region. Within a short drive are some of Atlanta’s most dynamic and prestigious neighborhoods – Brookhaven / Capital City, Buckhead and Chastain Park. The Brookhaven MARTA station is located within a short walking distance of the Property providing transit-oriented access for tenants and visitors alike. Finally, Apple Valley’s location just off Peachtree Rd creates excellent vehicular access to Atlanta’s major interstates – I-85, I-285 and GA-400. Apple Valley’s rare combination of stability with upside coupled with its outstanding location creates a dynamic investment opportunity in today’s marketplace.
- Secure Income & Long WALT
- 7.1 years of WALT with strong tenants anchoring the project’s cash flow
- Value Creation Opportunity
- 15,000 SF of existing vacancy, more than half of which has been built out spec allowing new ownership to quickly lease-up the vacancy with limited additional Tenant Improvement costs.
- Brookhaven Neighborhood Location
- “Best of both worlds” - proximity to Brookhaven / Buckhead: Apple Valley benefits from its proximity to decision maker neighborhoods and employee bases while residing in the City of Brookhaven.
- Highly Amenitized & Walkable Location
- Multiple restaurant options in the surrounding area - many of which are walkable - in addition to Arnette’s serving the tenants of Apple Valley Brookhaven.
- Strength of Creative Office Market
- The creative office market has demonstrated above average rent growth, occupancy, and limited capital costs. This product type is poised to capitalize on the health first mentality in a post COVID environment with direct access to tenant spaces, open air common areas, and no elevators.