SG Property Services Sells One Wisteria Place in Snellville
23 Aug, 2017, 12:25 ET
ATLANTA, Aug. 23, 2017 /PRNewswire/ -- Paul Shailendra, president of SG Property Services recently sold a 41,000-square-foot building in Snellville, Georgia.
SG Property Services sold the complex, on One Wisteria Place, for $8.3 million, roughly $199 per square foot, which is on par for the Snellville market. American Healthcare Investors bought the property. The 12-year-old building houses mostly medical and dental clinics.
The property was developed, managed, leased and sold by SGPS, which was able to source the lead tenant, develop the building, complete the lease-up and stabilize the rent roll throughout a recession and the default of a major national tenant within the building and ultimately reach a successful sale.
"Accomplishing all of those tasks within one transaction was an undertaking but one in which we felt was necessary to do the right thing and make the sale attractive to the buyer," Shailendra said.
The three-story, Class A professional office building is in Snellville's new Overlay District.
Before Shailendra sold the property, an extensive underground detention system was designed and installed under the parking lot behind the building. SG Property Services also worked with the developer and local jurisdictional authorities to install site features such as decorative streetlights, street furniture, landscaping, and pedestrian-friendly amenities.
SG Property Services is a vertically integrated real estate firm based in Atlanta, Georgia, well versed in acquisitions, development, leasing, finance, construction management, asset management and property management.
SG Property Services has a track record for sourcing quality real estate opportunities in the medical and professional office sector in the broader Metro Atlanta market as well as select markets in the Southeastern United States.
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
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