5500 Oakbrook

Acquired in mid-2022, 5500 Oakbrook is a two-building, 56,602-square-foot flex industrial complex located in Norcross, GA within Gwinnett County. Situated in Atlanta’s highly coveted Northeast industrial submarket, the complex provides users convenient access to the major Atlanta thoroughfares of I-85 and I-285. Over 2 million people are located within a 30-minute drive.

Atlanta’s infill micro-market (Norcross, Chamblee, and Doraville) has the highest barrier to entry of any sector of Atlanta and the best connectivity to people, wealth, and interstates. Roughly 18% of the submarket’s stock consists of flex properties, which is about double the metro average. The submarket’s flex-heavy inventory caters to technology, telecom, and light manufacturing firms. This submarket has historically led the Atlanta metro in absorption with vacancy rates hovering around 5%.

The two buildings were constructed in 1980 with an average suite size of 2,800 square feet and clear heights up to 13 feet. At the time of acquisition, the complex was 100% occupied by 20 tenants with a weighted average remaining lease term (WALT) of 3.3 years. Planned renovations and enhancements include two roof replacements, parking lot repairs, and HVAC repairs & replacements.