OVERVIEW

Located on a 6.2 acre site, 1015 Windward Ridge Parkway, is a 96,900 SF single-story, single-tenant industrial property located in Alpharetta, GA. Acquired on June 3, 2021, via an off-market process through Foundry Commercial. The property was built in 1994 as an industrial asset and was converted to office in 2006, serving as the Equifax headquarters through December 2020.

OPPORTUNITY

At acquisition, the property was vacant and had 77% office buildout. The business plan included a $1.4M renovation plan to restore the property to its original industrial use and lease it at market rent to a single tenant.

REPOSITIONING INITIATIVES EXECUTED

All renovations have been completed and a lease has been executed for the whole building with Cennox, Inc. with the following terms: $7.65 PSF NNN with 3% annual escalations, 10-year term, 5 months free rent, and $5.50 PSF TIs.