Coral Gables-based IG3 Real Estate has acquired a office complex in Duluth, GA for $13.5 million. The Sugarloaf Business Center boasts 113,016 square feet on a 14 acre site at 1845-1855 Satellite Boulevard. Built between 1999 and 2001, the two building facility was 98 percent occupied under a triple net leases at the time of the sale. Major tenants include Credit Union Service Corp., Emory Clinic, Hire Dynamics, United HealthCare Services, Inc. and USASF Servicing. Mariano Perez of Grandbridge Real Estate Capital arranged a $8.4 million loan with MidFirst Bank to complete the sale. The real estate investment and asset management company has invested more than $100 million over the past two years in the greater Atlanta area.
“Sugarloaf offered a rare opportunity to acquire a stabilized office property positioned between two major highways in an incredibly strong market,” said IG3 Principal Carlos Imery. “As our recent commercial real estate activity shows, we are bullish on Greater Atlanta and continue to seek strategic investments in the area.”
