Lincoln Property Company Southeast has arranged the sale of 841 Livingston Court, a 35,908-square-foot office and warehouse building in Marietta, Ga. After being listed on the market for a 10-day-period, the sale closed on June 1, with a sale price of $5.95 million. Lincoln’s Jeff Henson and Chip Sipple represented the seller, MVTC, LLC, and the buyer was Alliance Consolidated Group.
The single-tenant investment sale comes on the heels of several recent improvements at the property. The tenant, SageNet, has signed on for a 15-year lease term, with a passive lease structure and below-market rent rate. The sale closed at a 7.50% cap rate and $165 price per square foot.
“The rapid sale of 841 Livingston Court is a testament to the strong and steady investment activity in Marietta and throughout the Atlanta metro,” said Lincoln’s Henson. “This is a positive sign for the market, and with a sticky, 15-year lease, this is a tremendous value-add opportunity for the buyer.”
SageNet is a leader in managed network and cybersecurity services. The company connects, manages and protects technologies and devices across the enterprise. SageNet boasts a three-decade track record in managed services and a long-term customer base that includes the nation’s largest retail, healthcare, financial, utilities and energy organizations.
About Lincoln Property Company
Dallas-based Lincoln Property Company is one of the nation’s largest diversified commercial real estate companies, with over 8,550 employees and an international footprint that includes offices in 450 cities across the United States and two offices in Europe. Since its inception in 1965, Lincoln has developed over 239 million square feet of office, industrial, and retail projects as well as 216,000 apartment units. Stemming from its development and ownership background, Lincoln's operating platform seamlessly integrates its various service lines, provides for consistent and measurable performance and utilizes cutting-edge technology over its 400+ million square feet of leased and managed assets. For more information on the Southeast Region of Lincoln Property Company, please visit lpcsoutheast.com.
