Kingston Commercial Real Estate and Massell Commercial Real Estate, on an exclusive basis, are pleased to offer for sale, 2455 Piedmont Road and 2469 Piedmont Road. These properties are well-positioned for creating value and long-term appreciation. These highly visible properties are located on Piedmont Road, with immediate access to I-85 and Georgia Highway 400. They are also located directly across Piedmont Road from the Lindbergh MARTA station.
The Property sits directly across Piedmont Road from Lindbergh City Center, recently rebranded as “Uptown Atlanta” by its new owners. This mixed-use development is anchored by the MARTA Rapid Rail station, MARTA rider parking deck and the MARTA Corporate Headquarters building.
Investment
1.38 Acres
The Property has a combined acreage of approximately 1.38 acres. This is a rare assemblage of two parcels having dual street access along Piedmont Road, a major developed artery a.k.a. Georgia Highway 237, and Morosgo Place at the rear. The Property currently has three single-level buildings which are fully-leased with rights of termination by a new Owner. There is also a double-sided billboard leased to Clear Channel Communications under a month-to-month arrangement. The Property can be delivered “free and clear” at Closing, and there exists a possibility of one or more tenants doing a “lease-back”, albeit at below market rents. (NO financial information will be provided as part of this sale). The Property has 331 feet linear street frontage on Piedmont Road and 208 linear street frontage on Morosgo Place. The Property is mostly rectangular in shape, has a flat topography with the majority of the site paved. There are approximately 73 total parking spaces, including those side street spaces on Morosgo Place. Flanking the Property on both ends are gas stations (Texaco and Chevron branded). To the rear (East) of The Property is a newly-constructed Kroger “Super Grocery” at 82,000 square feet, plus adjacent Multi-Family Apartments. Due North of The Property is The Peninsula Apartments, a 5-level 311-Unit residences with 10,000 square feet of street-level retail. Directly across Piedmont Road from The Property sits Lindbergh City Center, recently rebranded as “Uptown Atlanta” by its new Owners. This mixed-use development is anchored by the MARTA Rapid Rail station, MARTA rider parking deck, and their MARTA Corporate Headquarters building. There are four Multi-Family Apartment buildings
containing over 700 units at +/-94% occupancy levels. Two Class “A” Office towers, built in 2002, contain approximately 932,000 square feet and are undergoing a $70,000,000
renovation including common grounds, parks and pedestrian plazas. Rounding out this project are a handful of Retail establishments (+/- 120,000 sf) which include Longhorn
Steakhouse, Dunkin Donuts, Chase Bank, Chick-Fil-A, and a Pikes Nursery at the rear along Lindbergh Drive.
Atlanta
Lower Buckhead
BENEFITS
Long-term asset appreciation
Potential to build multi-generational wealth
A rare opportunity to acquire an under-utilized, well-located property in a dynamic market