Northmarq, one of commercial real estate’s leading investment sales brokerage firms, has completed the sale of Barrett Court, an office building located at 1925 Vaughn Road in Kennesaw, Georgia. The 32,378-square-foot property sold for approximately $4.2 million. Northmarq’s Craig Tomlinson represented the buyer, an individual investor based in Louisiana. The property was sold by a group of Atlanta, Georgia-based investors.
“The report of office’s demise is greatly exaggerated,” said Tomlinson, Senior Director and Partner in Northmarq’s Tulsa, Oklahoma headquarters. “There is strong demand for suburban and garden office, typically occupied by the decision makers. Not everyone can or wants to work from home. Buildings with strong fundamentals and reasonable basis are one of the few places an investor can find yield today.”
The two-story Class B property was built in 1998 and is situated on 4.6 acres. The site is conveniently located near Interstates 75 and 575 in northwest suburban Atlanta. At the time of sale, it was 85 percent occupied by tenants including The Adaptive Learning Center, Byram Healthcare, Edward Jones and Farmers Insurance.