A Class A Office building, located in Alpharetta, GA. The building was purchased with an 88% occupancy rate.
About half of the property is being leased to an anchor tenant, TSYS, a large payment solutions company, traded in NYSE with a market cap of $16.7 Bn.
The property is located in Alpharetta, one of the fastest growing sub-markets in the Atlanta MSA.
The average rent in the property is 15% below market rent, which leaves a great room for upside upon renewal of ongoing leases.