AIP Properties purchased the two story, 14,887 SF multi-tenant office building and an additional 1.1 acres in Atlanta’s Northwest submarket from the engineering group occupying the lower level. The property is within walking distance (.07 miles) from the nationally acclaimed Suntrust Park & Battery, the new home of the Atlanta Braves.
The purchase price was $2,600,000. Immediately upon closing AIP Properties demolished all the interior finish and created the second location for Sharedspace. Sharedspace (www.sharedspace.work) is a community coworking business similar to WeWork but with significantly smaller footprint. Total renovation of the interior and exterior of property, totaled approximately $3M.
AIP Properties plans to develop a small 12,000 SF property on the additional 1.1 acres in with the first (24) months and either sell or lease the freestanding property to a single user.