OrbVest Global Real EstateInvestment Overview
OrbVest is pleased to present the Lakeside Professional Center.
The property is situated at 2925 Premiere Parkway, Duluth, GA, and is a well-maintained Class A medical office building. The property totals 23,555 SF with a current occupancy of 100%, which is made up of all medical tenants.
The property was completed in 2006 and has had substantial tenant improvement packages completed during this time. The property sits on 3.52 acres of land and has a weighted average lease term (WALT) of 4.74 years, with all but one tenant featuring 2% to 3% annual rental escalations.
The property also benefits from all leases having a triple net structure. This structure means that all property-related operating expenses will be paid for or reimbursed by the tenants, with the exception of capital improvements.
The strategy is to hold the property for a 5-year term and renew existing leases that expire during this time period. OrbVest is also planning on refinancing the debt on the property in year three of the hold. This is an opportunity to secure a lower interest rate and boost cash flow.
The Sugarloaf area of Duluth, referred to by many as Gwinnett Center, is home to the Lakeside Professional Center at Sugarloaf, the top neighborhood dental/medical center in greater Atlanta. Outstanding practices in General Dentistry, Orthodontics, Periodontics, Oral Surgery, facial CT scanning, and Pediatrics offer area residents the foremost in care in a relaxed neighborhood setting.
Lakeside Professional Center at Sugarloaf is Gwinnett County’s premier neighborhood dental/medical office building located in the heart of the county, just east of Sugarloaf Country Club. The building is home to Gwinnett’s finest dental and medical practices, a single space remains available for the right group.
