Office for Sale in Jonesboro, GA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Office
  • Location: Jonesboro, GA 30236
  • Year built: 1978

Description

Marcus and Millichap is pleased to exclusively offer to qualified investors the opportunity to acquire McKenzie Suites (the “Property” or “Asset”), a value-add office investment portfolio located in the Aerotropolis Atlanta Submarket. Aerotropolis Atlanta is ideally positioned near $66 Billion economic power-house Hartsfield-Jackson International Airport. The Asset sits in Downtown Jonesboro, a member municipality of Aerotropolis Atlanta, and is minutes away from Tara Boulevard, an active corridor with 55,100 AADT, and a region set for rapid transformation as proposed by civic leaders and residents. The Property is positioned as executive suites and leased to a diversified roll of small business owners. The Jonesboro office market boasts a +96% occupancy rate for office assets, being evidenced by current landlords ability to rapidly lease upon acquisition in 2020, and generate a remarkable +500% increase to annualized gross income within first year of ownership. Jonesboro stands to be the beneficiary of planned and recently delivered development projects related to the updated “Framework Plan”. McKenzie Suites provide investors with the opportunity to create significant and immediate value via light renovations and lease-up, as well as a seamless transition by partnering with current management. Investment Highlights: • +96% Occupancy Rate for Jonesboro Office Assets (Class B & C Assets) • Landlord was able to increase annualized gross income by +500% within first year of ownership • Management open to staying on board for seamless transition • Stagnant construction pipeline promoting scarcity for office executive suites or commercial office space for small business owners & users in Jonesboro • Economic development and incentive packages set for historic downtown area - McKenzie Office Suites at the center of it all

Market Context

This office in Jonesboro, GA is listed for sale. The building dates to 1978. It has been on the market for 68 days. Compare it against other office listings for sale in Jonesboro, GA — <a href="/search/sale/office/georgia/jonesboro">view the full market</a>.

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