Lincoln Property Seals Lease in Metro Atlanta
Redline Property Partners is the owner of the Class A office building.
Nuclear fuel cycle technology and consulting solutions provider NAC International has signed a 23,000-square-foot lease at 2 Sun, a Class A office building in Peachtree Corners, Ga. Lincoln Property Co. Southeast brokered the lease signing on behalf of the landlord, Redline Property Partners, while Savills facilitated the deal for the tenant.
According to CommercialEdge, the owner picked up the asset back in 2017, for $11.2 million. The same source reveals that the 98,040-square-foot, four-story office building was originally completed in 1999 on a 9.7-acre site and underwent cosmetic renovations in 2019. The property offers three points of access and a parking ratio of 6.5 spaces per 1,000 square feet.
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Located at 2 Sun Court NW in downtown Peachtree Corners, the office building is less than 2 miles from The Forum, the city’s main destination for dining, retail and entertainment. The property is also less than a mile from various shopping centers, hotels, restaurants and fitness centers, while Hartsfield-Jackson Atlanta International Airport is some 35 miles away.
Lincoln’s Senior Vice President Michael Howell, Vice President Matt Fergus and Senior Leasing Associate Seabie Hickson assisted the landlord. Managing Director Cory Hall and Vice Chairman Bo Keatley of Savills brokered the deal on behalf of NAC.
Adapting to the needs of the modern workforce
The office building is part of the master-planned community of Technology Park Atlanta. An outdoor tenant patio, campus-wide Wi-Fi and food delivery service for tenants are among the amenities and services available at 2 Sun. NAC joined the existing tenant roster at the property, including Corners Outreach, American Homes 4 Rent, Iron Mountain and Presidio.
In a prepared statement, Fergus said that the most recent upgrades enable 2 Sun to take advantage of the submarket’s expanding demand, as office tenants continue to seek highly amenitized spaces, that cater to the rapidly evolving needs of the modern workforce.
According to CommercialEdge’s recent national office report, the Sunbelt is leading the nation when it comes to office employment growth, Atlanta registering a 7.7 percent increase in office jobs year-over-year through September 2022.
As revealed by a report from Lincoln, Northeast Atlanta has continued to outperform other submarkets in recent years, registering the lowest vacancy rate across all property classes, at just 15.9 percent. The same market research shows that the area’s office sector witnessed a positive absorption of 5,117 square feet in the third quarter of 2022.
