Marietta Technology Center

Acquired in early-2022, this single-story flex industrial / office building is in the Cumberland / Galleria submarket of Marietta, northwest of Atlanta’s CBD via Interstate 75. With access to I75, I-285, and Cobb Parkway, the property provides users convenient access to markets throughout the Atlanta metro.

The property was constructed in 1983 and is situated in a 37-acre business park with prominent monument signage and ample surface parking of 3.5 per 1,000. At the time of acquisition, the property was 86% leased to 14 tenants with a 2.8-year WALT. Additionally, 47% of the portfolio was leased on base year leases, granting ownership the opportunity to create more value by converting those base year tenants to net leases.

Many of the tenants in the Marietta submarket have small footprints with desire for proximity to the metro’s core. The property’s infill location along Interstate 75 will enable us to push rents at a similar rate to the metro average in recent years, resulting in year-over-year rent growth that continues to outpace historical norms. Westmount plans to execute property renovations and repairs including refreshing the exterior paint and conducting annual HVAC repairs.