Lincoln Facilitates Office Lease in Atlanta Suburb
- Aug 11, 2017
Lincoln Property Co. Southeast completed a lease extension and space expansion at Preston Ridge IV, a 150,320-square-foot, Class A office building in Alpharetta, Ga. The tenant, HotSchedules, signed a lease renewal for 11,851 square feet and an expansion for 4,271 square feet, bringing its overall space to 16,122 square feet.
Located at 3440 Preston Ridge Road, the six-story property was completed in 2000 and features a parking ratio of 4.5 space per 1,000 square feet. Preston Ridge IV sits on an 8.8-acre site atop the highest summit in North Fulton County and offers access to North Point Parkway, Old Milton Parkway and Georgia State Route 400. Nearby amenities include restaurants, hotels, banks, residential neighborhoods and North Point Mall is only a short distance away providing a wide range of shopping and dining options.
Senior Vice President Michael Howell of Lincoln Property Co. represented landlord OA Development, while Senior Vice President Bill Kilborn of CBRE worked on behalf of the tenant in the lease negotiations. HotSchedules provides mobile, cloud-based technology for the restaurant, retail and hospitality industries.
“We are excited about HotSchedules’ expanded presence at Preston Ridge. They will continue to benefit from the outstanding location of Preston Ridge IV along with dramatic views the building offers and close proximity to both Avalon and North Point Mall, which offers a full range of nearby amenities for its employees and visitors,” said Howell, in a prepared statement.
According to Yardi Matrix, OA Development acquired Preston Ridge IV in October 2016 from Equity Office in a $27.5 million deal. The property is subject to a $19.3 million loan originated by Reinsurance Group of America, scheduled to mature in November 2023.
Image courtesy of Yardi Matrix