Cushman & Wakefield represented MK Asset Management in the purchase of Franklin Oaks, a 152,000-square-foot, four-building business park near I-75 and Delk Road in Marietta, three miles north of the new Atlanta Braves Stadium.

The buildings, on 13.5 acres of land, were purchased by Chicago-based MK Asset Management, a commercial and residential property management firm with properties valued at more than $175 million under management nationwide.

The property lies within the rapidly gentrifying Gateway Marietta CID along Franklin Road.

MK Asset Management was represented by Boris Garbuz of Cushman & Wakefield.

“This is our first property in the Atlanta market, and we intend to play a positive role in the Gateway Marietta CID’s plans for the revitalization of the Franklin Road Corridor,” said Jared Margolis of MK Asset Management.

Franklin Oaks consists of four single-story buildings, each ranging from 27,000 to 52,000 square feet of space.  C&W will lease the property on behalf of the owner.  Approximately 55,000 square feet of space is available.

The Gateway Marietta CID is in an opportunity zone, meaning when two or more new jobs are created, businesses may be eligible for $3,500 in Georgia income tax credits for each job for five years.  Also, as a result of a $68 million Marietta Redevelopment Bond, $64 million will be spent in the Franklin Road Corridor for revitalization.

“It is exciting to learn that the efforts and message of the mayor and city council to revitalize Franklin Road are reaching national firms like MK Asset Management,” said Marietta Economic Development Manager Beth Sessoms.  “Its acquisition of Franklin Oaks helps solidify the city’s efforts to bring investment and jobs back to Franklin Road.  I welcome their team to Marietta,” she said.