Article first posted on Atlanta Business Chronicle, Sep 22, 2025.
DeKalb Technology Center next to Spaghetti Junction sells for nearly $42 million
An Austin investor has flipped a DeKalb County flex park for a solid return.
An eight-building flex park located just west of Spaghetti Junction has sold to a South Florida investor.
DeKalb Park LLC paid $41.6 million for DeKalb Technology Center, according to a property deed. The buyer’s listed address matches that of SunCap Real Estate Investments, a fund manager based in Fort Lauderdale, Florida.
The seller was a company associated with CapRidge Partners, which is based in Austin, Texas.
The deal closed on Sept. 10, property records show.
The eight buildings offer a total of 285,000 square feet of light industrial and office space. Tenants include Atlanta English Institute, Montra Technologies Inc., Barbizon Lighting Company, Landmark Forum, Everon, Sierrafruitsnacks and more.
DeKalb County property records show that CapRidge purchased the flex park for over $31 million in June 2022.
The property was 67% leased at that time, according to a news release. It’s now over 90% leased, according to a recent LinkedIn post from CapRidge Partners Chief Investment Officer Dan Terpening.
Terpening shouted out Reid Hanner and Jordan Camp, former partners at Foundry Comercial and now principals at Oakley Real Estate Partners, for securing the tenants. Tom Shafer, Chase Mathews and John Hinson with OnPace Partners secured the buyer.
“The light industrial sector has continued to see strong tenant demand pushing current vacancy rates to sub-4 percent in spaces under 10,000 square feet,” Hanner and Camp said in a statement in 2022. “Given this trend, we see rents continuing to aggressively run in the small bay sector of Atlanta’s infill submarkets.”
Multi-tenant, small-bay industrial space should still be a good buy.
Avison Young reported in August that vacancy for industrial buildings in the 20,000- to 50,000-square-foot range sits at 5.6% — well below Atlanta’s overall market average of around 9.2%. Asking rents for small-bay industrial space have also risen 4% year-over-year, Avison Young reported.