Lincoln Property Company Southeast (Lincoln) has secured a 50,000-square-foot lease at 3100 Breckinridge Building 1200 in Duluth, Georgia, bringing the building to 100% occupancy. Lincoln’s Senior Vice President Hunter Henritze, Vice President Matt Fergus and Senior Leasing Associate Seabie Hickson represented the landlord, TerraCap Management.
Trenton Systems, represented by David Shockley from Progressive Realty LLC, will occupy the office space in Building 1200. Trenton Systems is a computer hardware manufacturer providing secure, high-performance computing solutions for aerospace and defense programs worldwide.
“This milestone for Building 1200 is a huge win for everyone involved,” said Lincoln’s Fergus. “With its plethora of nearby amenities and prime location within a highly incentivized opportunity zone, it is no surprise to us that this building reached full occupancy despite the conditions created by the pandemic. 3100 Breckinridge offers one of the most desired office spaces in Duluth, and we know that Trenton Systems will thrive in this setting.”
Located conveniently between Pleasant Hill Road and Old Norcross Road in Duluth, 3100 Breckinridge is a 30-acre office park boasting seven buildings totaling 253,307 square feet. The complex offers direct access to I-85 and features ample surface parking, floor-to-ceiling windows and a manicured, landscaped campus. The property sits just minutes away from a large selection of dining, retail and hotel options and also resides within the Gwinnett Opportunity Zone, which provides a tax credit of $3,500 per new job created annually for five years.
According to a Q4 2021 office research report by Lincoln, the Northeast Atlanta submarket was one of only five submarkets in Metro Atlanta to gain over 70,000 square feet of absorption for the quarter. Overall, Northeast Atlanta has 54,441 square feet of office space under construction with an average rent rate of $20.55 per square foot. Its vacancy rate has also continued to decline, falling 0.8% in the fourth quarter to finish the year at 17.5%.