ALPHARETTA, Ga. — An 88,000-square-foot office space and data center sold in southern Forsyth County for $10.75 million.
The building, located at 5925 Cabot Parkway, comes fully furnished and retains all of the data center capabilities. The site has been empty since its former tenant, Datascan, relocated to a new facility in Alpharetta City Center last June. The building was owned by JM Family Enterprises, the parent company of Datascan.
The Woodbery Group, a real estate development and investment firm, purchased the facility. The building offers workspace for more than 130 employees and includes a 21,000-square-foot data center with 3 Megawatts of power.
Data centers have been a growing real estate market in the Atlanta metro area. The data job market has been gaining recently and with new legislation is only expected to increase in the coming years.
"The Atlanta data center market is gaining worldwide attention for its low cost of power and many fiber carriers," said Frank Clementi, Senior Managing Director of Newmark Knight Frank, the broker for the seller. "Additionally, fueling this growth is the recent passing of House Bill 696, offering buyers of data centers tax exemption on equipment purchases and power usage."
The Cabot Parkway building was built in 1999 and fully renovated in 2007. It features 48 private offices, approximately 130 workstations, 11 conference rooms, two lounge areas and a full-service catering kitchen. It is off the McFarland Parkway exit of GA 400 and is about 3 miles from the Halcyon mixed-use development that is currently under construction.
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