Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire fee simple interest in the Noonday Business Park, located in Kennesaw, Georgia. The fully stabilized flex center is comprised of three buildings that total 66,000 square-feet and rest on a combined 4.84 acres across two adjacent lots. The asset is occupied by a diverse tenant mix, with the majority on short-term gross leases featuring 3% annual escalations and no renewal options. Noonday Business Park offers substantial value-add opportunity by raising rents, converting leases to NNN, and extending terms. Additionally, the surrounding area has extremely low vacancy rates at 1.7% for flex properties in the Woodstock/Canton submarket. The Atlanta metro encompasses 29 counties in northwestern Georgia. With few natural barriers to limit development, tremendous population growth over the past decade expanded the metro’s borders, and the region now has a population of roughly 6.0 million people. Over the next five years the region is expected to add approximately 316,000 residents. The urban core has been the epicenter of several major construction projects in recent years, with Centennial Yards headlining urban renewal in Downtown Atlanta. In 2024, the metro will remain among the top markets nationally for commercial construction. The volume of new projects in the downtown and midtown sections of the metro will present additional housing, entertainment and retail opportunities, enticing residents back into the city and providing options for people moving to the metro.