Location: Atlanta, GA
Size: 284,206 sq ft
Dekalb Technology Center is a very well-located, flex/industrial asset on 31 acres in the Northeast submarket of Atlanta. Directly adjacent to the I-285/I-85 interchange, tenants have great access to the greater Atlanta metro. Comparable land sales on sites inside the perimeter are in the $1M/acre range, thus the land value here provides great downside protection. Institutional ownership in the surrounding industrial pocket includes Prologis, Ivanhoe Cambridge, and CIP. At ~80% office buildout today, the immediate plan is to demo majority of the office buildout in current vacancies with a warehouse focused spec suite program. As we get spaces back throughout our hold, we would plan on carrying out a similar plan to reduce the overall office buildout at the park as well as spur leasing activity/velocity.