Lakepointe | Office Acquisition Opportunity 1700 Water Pl SE

Opportunity to acquire a well-located, 3-story, lake-front office building near The Battery in metro Atlanta at only $119/SF. Lakepointe offers investors the opportunity to acquire a property well below replacement costs in one of the best performing office sub-markets of metro Atlanta. Just completed improvements to the common areas, bathrooms, and parking lot pave the way for improved leasing and tenant retention.

The building is currently 49% occupied with average rents of $17.62/SF. CoStar reports 2 star office rents in the Cumberland Galleria average $20.57/SF, with positive absorption over the last 12 months and a vacancy factor of only 4%. The popular location near the Atlanta Braves Stadium, Truist Park, and surrounding mixed use development known as The Battery is poised for continued population and job growth.

The timing is excellent to ride the wave of increasing back to office trends, new supply constraints and continued growth in this popular Atlanta suburban market.