Lincoln Property Company Southeast Arranges $2.1 Million Acquisition of Office Building in Kennesaw, Georgia
Lincoln Property Company Southeast has facilitated the $2.1 million purchase of 1945 Vaughn Road, a 27,300-square-foot office building located in Kennesaw, Georgia, just outside of metro Atlanta. Jeff Henson of Lincoln represented the buyer, Cloud9Ortho, in the transaction, and Randy Hoye and Enio Guerra Bull Realty represented the seller, AMLI Residential.
Built in 1994, the two-story office building is located within a master-planned office park and is maintained with quality controls. The former corporate headquarters has been updated and outfitted with energy efficient features such as solar panels and motion lights. Nearby amenities include the Noonday Creek Trail, Town Center Mall and easy access to interstates 75 and 575.
“There’s been a significant uptick in these small to mid-size owner/user sales during the last 12 months, largely due to a lack of inventory,” Henson said. “Demand for quality, well-constructed owner/user buildings is far outpacing supply right now, which is increasing the price per square foot. Office sales in the first quarter totaled 46 transactions with a total volume of $677 million, compared with 25 transactions with a total volume of $560 million in the first quarter of 2015. We believe office sales activity will continue to tick up for the remainder of the year.”