Sunday, June 26, 2022
The Property Reporter
  • Home
  • News
  • Retail
  • Residential
  • Office
  • Industrial
  • Hotel
  • Buying a Home
  • Selling a Home
No Result
View All Result
  • Home
  • News
  • Retail
  • Residential
  • Office
  • Industrial
  • Hotel
  • Buying a Home
  • Selling a Home
No Result
View All Result
The Property Reporter
No Result
View All Result
Home Office

TerraCap Management Sells 100% Leased 75,000 Square Foot Office Building in Duluth, GA

PrR by PrR
2022-06-20
in Office
0
20
SHARES
152
VIEWS
Share on FacebookShare on Twitter


ATLANTA, June 20, 2022 /PRNewswire/ — TerraCap Management LLC, a privately held investment firm with its headquarters in Naples, Florida, announced today the sale of the 1200 Building at 3100 Breckinridge Boulevard, a three-story office building located in Duluth, GA. The property was built in 1986 and consists of 75,000 square feet.

TerraCap Management
TerraCap Management

TerraCap acquired the property in May 2017 as part of a seven-building office park acquisition and invested over $7 million in capital to improve and lease up the property.  TerraCap invested in exterior painting, roof replacements, updated landscaping, spec suites, parking lot improvements, and added amenities to the common areas. In December 2021, TerraCap sold the six single-story office buildings in the portfolio. In February 2022, TerraCap leased up the remaining 50,000 square foot vacancy in the three-story building, reaching 100% occupancy at the time of disposition.

“The sale of the 1200 Building at 3100 Breckinridge completes our investment objectives for the asset. This asset benefited from steady leasing demand during the pandemic and validated our investment thesis around the value of investing in creative suburban office properties. We are grateful to the Lincoln Property Company team in Atlanta for their hard work to lease, manage, and execute on all capital improvements over our hold period,” said Matt Stewart, Director of Asset Management for TerraCap Management LLC.

Steve Good, Director of Acquisitions at TerraCap Management commented, “The pandemic posed some challenges, however, leasing remained steady, and our team did a great job repositioning this asset. Tom Shafer and John Hinson with Capital Real Estate Group also did a great job finding the right buyer and running a smooth sale process. We feel the asset has been set up for future success and we wish all parties the very best.”

About TerraCap Management LLC

TerraCap Management LLC considers thematic factors such as business formation, employment growth and population growth on a market-by-market basis, as most metros and submarkets have different economic-based industries and therefore move through their economic cycles differently. TerraCap makes moderate strategic overweighting or underweighting to markets, depending on the specific economic drivers influencing supply and demand.

The Investment Manager has been in operation since 2008 with its headquarters located in Naples, FL, the firm also has offices in Tampa, FL, Atlanta, GA, and Denver, CO. As operators, TerraCap believes it can make decisions more efficiently while leveraging expertise from property to property. The firm has over 9 million square feet of commercial assets within its portfolio, with over 2.0 billion dollars of assets under management.

More information can be found at terracapmgmt.com.

For More Information, Contact:

Matthew Hart
239.494.8922
TerraCap Management LLC

SOURCE TerraCap Management LLC



Source link

Previous Post

Harrogate based creative commercial interior designer ‘moves in’ on residential property sector

Next Post

Northwood Retail Sells Whole Foods-Anchored Shopping Center in Metro Raleigh for $88M

Next Post

Northwood Retail Sells Whole Foods-Anchored Shopping Center in Metro Raleigh for $88M

RECOMMENDED

Greenville Summit offers affordable downtown housing in a historical building

2022-06-26

Gofen & Glossberg LLC IL Cuts Stake in Corporate Office Properties Trust (NYSE:OFC)

2022-06-26

MOST VIEWED

  • Fox Lake hopes to bring hotel to Mineola lakefront site; ‘Recognizing our unique position on the Chain O’ Lakes is a key driver for our progress’ – Chicago Tribune

    638 shares
    Share 255 Tweet 160
  • Doubling Down With the Derricos’ Deon boasts about ‘buying up blocks’ & promotes real estate business after foreclosure

    171 shares
    Share 68 Tweet 43
  • Historic home on 32-acre site annexed into Elgin for new industrial development free to anyone who wants to move it

    151 shares
    Share 60 Tweet 38
  • Plas Glynllifon’s new owner speaks for first time on difficult challenge to renovate mansion

    108 shares
    Share 43 Tweet 27
  • Atlanta developer plans downtown Dallas towers

    75 shares
    Share 30 Tweet 19

Recent Posts

  • Greenville Summit offers affordable downtown housing in a historical building
  • Gofen & Glossberg LLC IL Cuts Stake in Corporate Office Properties Trust (NYSE:OFC)
  • Fort Smith directors approve moratorium for military sales project
  • Australian property investor couple reveal their tips to get rich
  • Chesterton partnership readies 500,000 sq ft Cambridge mixed-use park development | News

CATEGORY

  • Buying a Home
  • Hotel
  • Industrial
  • News
  • Office
  • Residential
  • Retail
  • Selling a Home
  • Privacy & Policy
  • About Us
  • Contact Us
  • Advertise with us

© 2021 Copyright Property Reporter

No Result
View All Result
  • Home
  • News
  • Retail
  • Residential
  • Office
  • Industrial
  • Hotel
  • Buying a Home
  • Selling a Home

© 2021 Copyright Property Reporter