Newmark Knight Frank Facilitates Sale of GA Mixed-Use Asset
- May 10, 2019
JM Family Enterprises sold 5925 Cabot Parkway, an 88,000-square-foot office building and data center in Alpharetta, Ga. Local real estate development and investment firm The Woodbery Group purchased the asset for $10.8 million. Newmark Knight Frank represented the seller, while SK Commercial Realty assisted the buyer.
Located in Forsyth County, 5925 Cabot Parkway is within a 16-minute drive of downtown Alpharetta and 33 miles north of Atlanta. The property is close to McFarland Parkway and The North Fulton Expressway, providing easy access to several restaurants and retailers. Hartsfield-Jackson Atlanta International Airport is 42 miles away.
Constructed in 1999 and fully renovated in 2007, the Class B asset features 48 private offices, some 130 workstations, 11 conference rooms, two lounge areas and a full-service catering kitchen. The data center section occupies 21,000 square feet and offers 3 megawatts of power with built-in redundancy.
Executive Managing Director Jason Schrago and Senior Managing Director Frank Clementi were part of the NKF team that worked on behalf of the seller and SK Commercial Realty’s Tom Kirbo assisted the other party involved in the deal.
Recently, another Alpharetta building traded. A joint venture purchased a two-building, Class A office property located just 11 miles of 5925 Cabot Parkway.