Naples, Fla.,-based investment firm TerraCap Management recently announced the sale of a multi-building office asset in suburban Atlanta. Specifically, the privately held firm sold six single-story buildings located at 3100 Breckinridge Boulevard in Duluth, Ga. Tom Shafer and John Hinson of Capital Real Estate Group represented the seller. No details on price were disclosed in the announcement.<\/p>\n
TerraCap previously acquired the property in 2017 as part of a seven-building portfolio and subsequently enlisted Lincoln Property Company Southeast (LPC) to handle leasing and management assignments. During its ownership, TerraCap completed an extensive improvements program, which included upgrades to building exteriors and curb appeal, as well as building several move-in ready speculative office suites. Consequently, LPC increased occupancy from 58% at the time of acquisition to 85% at the time of the most recent sale.<\/p>\n
\n#LPCATL<\/a> is awarded leasing & management of 3100 Breckinridge, a 253,000 sf #office<\/a> park in #Duluth<\/a> @CPExecutive<\/a> #CRE<\/a> https:\/\/t.co\/G1YwZfCOxZ<\/a> pic.twitter.com\/KYCK0lXtvM<\/a><\/p>\n
\u2014 Lincoln Property Company Atlanta (@LPCAtlanta) June 19, 2017<\/a><\/p><\/blockquote>\n