One Hartsfield Centre Hits the Market
- Jun 20, 2012
By Georgiana Mihaila, Associate Editor
The 150,000-square-foot, Class A office building overlooking the north end of Hartsfield-Jackson Atlanta International Airport is now up for grabs.
Leading commercial real estate services provider Cassidy Turley has already commenced marketing efforts. The sales team for One Hartsfield Centre consists of Gary Lee, managing director, Mike Shelly, a senior managing director in Cassidy Turley’s Atlanta office, and Watson Bryant, an associate vice president.
“We are tremendously excited about the opportunity to put this best-in-class asset on the market,” said Lee. “One Hartsfield Centre is in excellent physical condition, has a long track record of tenant retention and provides easy access to the airport and interstate. This is a very strong asset that will receive significant interest nationally from core-plus and value-add office buyers.”
The eight-story One Hartsfield Centre, located in the Atlanta Airport submarket, was built in 1990; the property is currently 80 percent leased to long-term, transportation related credit tenants from both the private sector and the federal government, with the Air Line Pilots Association serving as anchor tenant. According to an official release, only 30 percent of its existing leases are set to expire before January 2018.
The building, owned by Alecta Real Estate and managed by Cassidy Turley, earned ENERGY STAR certification in 2010 and received an improved score in 2011. After undergoing several projects meant to improve the building’s efficiency, One Hartsfield Centre has also been certified LEED for Existing Buildings: Operations & Maintenance.
Located in a high-barrier-to-entry market, the property offers expansive views of the airport, direct shuttle access to Hartsfield-Jackson and significant development opportunities on its 14 acres. As reported by Citybizlist, local sources say that the property could fetch up to $14 million, substantially below its replacement cost of greater than $30 million.
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