SUWANEE GATEWAY ONE
Suwanee Gateway One (SG1) was developed by OPUS South with Certificate of Occupancy at January 2009. Unfortunately for OPUS, it was also foreclosed on by the lender, Fifth Third Bank, about then. SDM won a very competitive bidding process and managed a challenging situation with a reluctant seller. SDM completed its due diligence quickly and the deal closed all-cash in 30 days. After almost 4.5 years, a two floor credit tenant was signed.
Purchase Price: $7,700,000 or $54/SF (Sept. 2010)
Capital Partner: Piedmont Office Realty Trust (www.piedmontreit.com)
-142,425 SF 5-story
-Approximately 8.0 acre site
-Silver LEED core and shell