Avistone Acquires Northwoods Business Center in Atlanta, Georgia

By David Sheets | Aug 30, 2017 Blog / News / Portfolio
Northwoods Business Center

Avistone, LLC announces the acquisition of Northwoods Business Center located in Peachtree Corners (Atlanta), Georgia. The 110,343 SF multi-tenant flex industrial project is located in the Norcross/Peachtree Corners submarket on 9.35 acres of land. Built in 1985, the project consists of three (3) buildings and is currently 79% leased with 15 tenants.

The company negotiated an acquisition price below replacement value, with a strong projected IRR over a 3-year holding period.

Avistone has identified Northwoods Business Center as an outstanding opportunity to capitalize on the increased demand for creative office space in the Atlanta market. Our strategy is to create significant value by converting the vacant space to creative office design, modernizing and rebranding the property, and subsequent lease-up. We expect these renovations to be complete within the first 6 to 9 months after acquisition.

According to the 2016 US Flexible Office Report and Liquid Space, rapid growth and changing business conditions are pushing companies of all sizes to seek flexibility in their office space. This is especially true with companies looking to accommodate teams between 5-15 people. Multi-tenant properties like Northwoods Business Center fit this need by offering many different layout and size options to meet the ever-changing needs of companies. The combination of recent office absorption, no new construction for flex industrial, and demand for creative office space have forced asking rents higher, and Avistone has identified the property as an outstanding opportunity to capitalize on this.

“We are very excited to acquire our third property in the Atlanta, Georgia area. Based on the success of our other two properties and the strength of the market, we are optimistic that our strategy to convert the vacant space to creative office will lead to a great investment,” said Richard Kent, President of Avistone. “Northwoods Business Center aligns well with Avistone’s goals to provide investors with risk mitigated investments in the multi-tenant flex industrial space with cash yields and the potential for long-term capital gains. We continue to actively acquire multi-tenant flex industrial properties that fit within our strategy and create value for our investors.”

Avistone is a premier real estate firm specializing in multi-tenant flex industrial properties. The company is currently acquiring and managing quality multi-tenant properties throughout the US from $5 million to $25 million. To learn more about Avistone and how you can benefit from its investments, please contact us at [email protected].

© 2024 Avistone, LLC. All rights reserved.

*IMPORTANT DISCLOSURES: This communication is intended exclusively for the private and confidential use of accredited investors. It is transmitted by the sponsor of the investment opportunity, Avistone, LLC, or one of its affiliates (referred to as "Avistone" or "Sponsor") and is provided solely for informational purposes. All information and opinions contained herein, including assumptions and projections (collectively referred to as "Projections"), are furnished by the Sponsor. The Sponsor and its affiliates make no representations or warranties regarding the accuracy of such information and disclaim any liability in this regard. None of the content in this communication is intended to create a binding obligation on the part of the Sponsor or its affiliates. This communication is fully qualified by reference to the comprehensive information regarding the offering set forth in the Sponsor's offering documents, including any private placement memorandum, operating agreement, and subscription agreement (collectively referred to as "Offering Documents"), which should be carefully reviewed before making any investment.

The Projections provided by the Sponsor, including target IRR, target cash-on-cash, and target equity multiple (referred to as "Targets"), are hypothetical and are not based on actual investment results. They are presented solely to provide insight into the Sponsor's investment objectives, outline anticipated risk and reward characteristics, and establish a benchmark for future evaluation of the Sponsor's performance. The Sponsor's Projections and Targets do not constitute predictions, projections, or guarantees of future performance. There is no assurance that the Sponsor will achieve these Projections or Targets. Forward-looking statements, including the Sponsor's Projections and Targets, inherently involve a variety of risks and uncertainties, and actual results may substantially and materially vary from those anticipated. Refer to the applicable Offering Documents for disclosures concerning forward-looking statements. Projections and Targets, including forward-looking statements, should not be the primary basis for an investment decision. Avistone and its affiliates do not provide any assurance regarding returns, or the accuracy or reasonableness of the Projections or Targets provided by the Sponsor. Past performance does not predict future results. The historical performance record of Avistone is not indicative of future outcomes. Third-party audits have not been conducted on the performance of Avistone's prior projects. Differing property offerings and commitment dates for individual property offerings resulted in varying returns for investors.

The metrics of the Full-Cycle Track Record on industrial properties are calculated based on weighted averages that treat investment dollars equally and are computed by aggregating the outcomes of all Avistone full-cycle industrial property investments, with weights corresponding to the respective capitalization amounts for each Full Cycle Investment. This real estate investment is speculative and involves substantial risk. There is a potential for a partial or complete loss of principal investment and should only be undertaken if you are prepared to bear the consequences of such a loss. Thoroughly review all of the Sponsor's Offering Documents, including any "Risk Factors" therein. For additional information concerning risks and disclosures, please visit https://www.avistone.com. None of the content in this communication should be considered investment advice, whether regarding a specific security or an overall investment strategy. Reproduction or distribution of this message to any individual or entity outside the recipient's organization is prohibited without the express consent of Avistone.