Casey Keitchen and Collin BeVier of Avison Young Capital Markets’ Office, Investment, Sales Group, recently marketed and sold 3970 Johns Creek Court for $16.85 million or approximately $130/sq. ft. The property, which is easily accessible off Johns Creek Parkway near Peachtree Parkway, is a 130,783 sq. ft. single story, high office finish flex/R&D building located in the North Fulton submarket in the city of Suwanee. The property is adjacent to the award-winning, master-planned community of Johns Creek, which features a high number of amenities and a population that continues to exhibit explosive growth.

“The property, which received more than 120 confidentiality agreements in only two weeks, offered a unique design – with the flexibility to have high office finishes for a company headquarters in addition to flex, research and development or light assembly and distribution components all in one location,” said Casey Keitchen, principal with Avison Young Atlanta. “With almost double the number of CA’s than usual, the demand for this product type was extremely strong. There really was nothing like it on the market in this location. The buyer, who was looking to enter and expand in the Georgia market was attracted immediately,” he added.

Since the property was built in 1999, the occupancy rate has averaged 90% with well-established, existing tenants, including Fisher Scientific, Scuf Gaming and Epic Tech that work in mission-critical and growth industries like biotech and gaming. In addition, those tenants have averaged a 10-year occupancy history due to the property’s desirable location and unique design features.

The property features extensive curbside parking for walk-up access and has an outdoor terrace with tables and seating to enjoy the fresh air or lunch with co-workers.

The transaction was the first purchase of property in Georgia by this northeastern private equity fund, which intends to make further acquisitions in the future.