This Week's Atlanta Deal Sheet: Payroll Provider Makes Big Move In Gwinnett
A human resources and payroll provider has inked one of the largest office deals in the past year — in Gwinnett County.
Vensure Employer Solutions inked a 90,300 SF lease at 6700 Sugarloaf Parkway, a 57K SF single-story flex office building nearly 2 miles northwest of Interstate 85.
The firm is moving from another suburban single-story flex office building, 2425 Commerce Ave., 3 miles south of their new location, where it occupied 29K SF. Known as Sugarloaf I, the facility is part of a five-building office campus some 2 miles from Sugarloaf Mills mall.
Colliers’ Deming Fish and Emily Richardson represented the landlord, The Simpson Organization. CTR Partners’ Rob Coatsworth and Jeff Richardson brokered the deal for Vensure.
Vensure ranks among some of the larger office leases signed in Metro Atlanta in the past year and is one of the largest in the northern Metro Atlanta suburban county of Gwinnett, eclipsed only by engineering firm Pond & Co.’s 109K SF renewal at Peachtree Ridge in Peachtree Corners last April, according to Partners Real Estate’s Steve Triolet.
The office submarkets of Duluth, Suwanee and Buford in Gwinnett also have some of the lowest vacancy rates in all of Metro Atlanta: 19.2% of its 1.8M SF office stock remains empty or available for lease as of the fourth quarter, according to Avison Young research. Only Decatur and the Airport/South Fulton office markets have lower vacancies, while major office hubs like Midtown and Buckhead face 36% total office availability.
SALES
McDonough physician Dr. Hemal Patel purchased a fully occupied 6,500 SF medical office building at 1388 Wellbrook Circle in Conyers for $1.8M from Berlin Ltd., according to Rockdale County records. Berlin was also the owner of a 10K SF MOB at 5303 Adams St. in Covington, which it sold to an unidentified investor last month, according to Bull Realty’s Paul Zeman.
Berlin purchased the 5303 Adams St. building in 2018 for $5M, according to Newton County records, which didn't reflect the recent transaction. Zeman brokered both sales, which totaled $4M.
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Craft Asset Holdings purchased the 13,500 SF Walgreens at 1065 Duluth Highway, down the street from Northside Hospital Gwinnett, for $3.7M, according to Gwinnett County records. WP Investments - Lawrenceville was listed as the seller.
Marcus & Millichap’s Ashish Vakhariya, Darin Gross and Seth Haron brokered the deal.
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Salad-dressing maker T. Marzetti Co. purchased the former Naturally Fresh dressing factory at 1000 Naturally Fresh Blvd. in College Park for $75M from Winland Foods Inc., the Atlanta Business Chronicle reported. Marzetti’s parent company, Lancaster Colony Corp., first announced its intent to purchase the 300K SF property in November.
Marzetti is a producer of dips and sauces for such brands as Chick-fil-A, Olive Garden, Arby’s, Texas Roadhouse and Subway.
PERSONNEL
Land brokerage firm SSG Realty Partners and its Artisan Land Cos. have hired Kelly Wilson as a regional partner and director for its retail properties group. Wilson, a 35-year CRE veteran, joined the firm after six years with Ackerman & Co.
Wilson is tasked with helping clients buy and sell retail land across the Southeast.
DEVELOPMENT
Greystar is planning to develop The Marlowe Chamblee, a 300-unit mid-rise apartment project in Chamblee, by the summer of 2027. The real estate giant purchased more than 6 acres in the mixed-use Chamblee Park project in January for $11.5M. It is a mile north of Assembly Studios, the ABC reported.
