ATLANTA, Aug. 23, 2017 /PRNewswire/ -- Paul Shailendra, president of SG Property Services, along with Phillip Hight, president of Hight Property Group, recently completed a turnaround on 20,000-square-foot building near Atlanta's Hartsfield-Jackson International Airport and more than doubled their investment in less than a year.
Shailendra said many improvements needed to be made in an around the building before they could sell it to a customs broker.
The capital expenditure plan included building system upgrades, parking lot improvements and upgrading the aesthetics of both the exterior and interior of the property. The white-boxing of the building renewed attention to the property that property that had been largely overlooked by tenants until the two groups bought it and renovated it.
"The building was sold less than nine months after we bought it," Shailendra said. "There were plenty of opportunities to offer value-adds that made financial sense for us, the sellers, and made it more attractive to a buyer."
Located in the shadows of the world's busiest airport, Hight and Shailendra knew the property would have value to corporate buyer who would appreciate the proximity, in-place infrastructure and surrounding amenities.
"One Clay Place proved to be a home run for our partnership," said Phillip Hight, owner of Hight Property Group. "Together, SG Property Services and Hight Property repositioned the industrial property, attracting many different types of users."
This sale was one of two acquisitions the groups made in the airport area. The other one, a purchase from 1053 Investments, the group plans to hold on to as a longer-term investment.
About SG Property Services:
SG Property Services (SGPS) is a full service real estate firm based in Atlanta. The company creates value through acquisitions, development, leasing, finance, construction management, asset management and property management. SGPS has successfully sourced quality real estate opportunities in the medical and professional office sector in the broader Metro Atlanta market as well as other select markets in the Southeastern United States. Principals of SGPS have decades of experience in these real estate sectors and have built a strong knowledge, contact and experience base. For more information, visit www.sgpropertyservicesllc.com.
SOURCE SG Property Services