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NOI Net Operating Income N/A
Cap Rate N/A
Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A

Documents

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Key facts

Year Built 1960
Building Area

Property description

Jones Lang LaSalle Americas, Inc (“JLL”) is please to offer the opportunity to acquire Armour Yards, a best-in-class portfolio of creative office located in Atlanta, Ga. Comprised of 226,779 square feet, Armour Yards encompasses 5 different properties that are currently 93% occupied. Adaptively redeveloped from warehouse into creative office over the last 5 years, the portfolio offers a unique blend of stability with upside. The in-place tenancy provides 4.8 years of WALT with 28% leased to investment grade companies, while the portfolio also provides the ability to add value through the lease up of the newly completed 251 Armour building.  

Strategically located in Midtown with close proximity to Buckhead, Armour Yards provides excellent access to some of Atlanta strongest residential neighborhoods including, Ansley Park, Brookwood Hills, Peachtree Hills and Midtown. In addition to the immediate access to I-85, the Property is poised to benefit from direct connectivity to the Atlanta Beltline and Path 400 once the Northeast section of the Beltline is completed. While there are numerous walkable amenities to Armour Yards including SweetWater Brewery, Fox Bros BBQ and EastPole Coffee, the portfolio’s location provides access to a numerous additional dining and retail options within a short drive.

While Armour Yards has already experienced significant tenant demand, the portfolio is poised for continued success as companies focus on a health first mentality in a post-COVID environment with the ability to control their own space. With a combination of a strong credit rent roll with term, the ability to add value through the lease up of 40,000 SF (18% of total RSF) and the anticipated continued tenant demand for the project, Armour Yards offers investors the rare opportunity to acquire a large-scale best-in-class creative office portfolio within Atlanta’s strongest office market.


Investment highlights

Sticky Tenancy with Diversified Rollover Schedule

Central Location & Accessibility

Leasing Momentum & Competitive Advantage

Future Mark-to-Market Opportunity

Connectivity 

In-District & Surrounding Amenities

Best-in-Class Adaptive Reuse Design

Strength of the Creative Office Market

Lease-Up Opportunity

Last Updated Date: 29 Apr 2021
Richard Reid
Richard Reid
Senior Managing Director, Atlanta & Nashville Co-Office Head
Broker Licenses
AL-000109241 FL-SL3171603 GA-313257 KY-217829 NC-LC304 SC-78122 TN-321591
Huston Green
Huston Green
Managing Director, Capital Markets
Broker Licenses
284522

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Last Updated Date: 29 Apr 2021

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The value of trust beneficiary rights fluctuates due to fluctuations in the price of real estate, and there is a risk of falling beyond the investment principal. Real estate prices are fluctuated by changes in the population of the area in which they are located and the number of newly supplied properties, fluctuations in interest rates and exchange rates, changes of tax system, loss/damage due to natural disasters such as earthquakes, deterioration over time, and the discovery of hidden defects such as soil pollution.

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