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Avison Young has been engaged to market a two-building, Class A suburban office park in Alpharetta, Georgia, for sale. The campus totals 318,945 square feet across 100 Milton Park, a 162,199-square-foot building, and 200 Milton Park, a 156,746-square-foot building. The properties are located at 30000 Mill Creek Avenue and 11175 Cicero Drive, respectively, positioning the asset within the North Fulton office corridor.
The office park is currently owned by special servicer Rialto Capital, which is identified as the owner following a foreclosure action. The previous owner, Adventus Realty Trust, acquired the property in 2017 for $57 million before ultimately losing the asset through foreclosure. The new marketing assignment places the property back in the investment-sales market under Rialto Capital’s control.
Avison Young has assembled a dedicated capital markets team to lead the disposition effort. The group includes James Nelson, Erik Edeen, Brad Sinclair, Chris Godfrey and Nick Steen. Their mandate is to solicit buyer interest for the two-building complex and position the campus to a broad investor audience focused on stabilized suburban office opportunities.
The Milton Park buildings are reported to be 85% leased, with tenants drawn from a diverse mix of industries. The tenant roster spans banking, technology, consulting, engineering, energy, legal and healthcare users, suggesting that income at the property is supported by varied business sectors rather than concentrated in a single field. This diversification may be a focal point for investors evaluating cash-flow durability.
Landis+Gyr, a global technology company, anchors the asset with its North American headquarters at the campus. The presence of a major corporate headquarters tenant underscores the property’s positioning as a higher-quality suburban office option within the local market.
Market context from Avison Young Technologies indicates that 70% of office buildings in North Fulton are more than 90% leased. This metric points to relatively healthy occupancy in the broader North Fulton office submarket, even as this particular asset comes to market following a foreclosure. For prospective buyers, the combination of high submarket occupancy and an 85% leased, Class A asset controlled by a special servicer frames the offering within both a stabilized leasing backdrop and a distressed ownership situation.
As Rialto Capital moves to sell the property and Avison Young begins formal marketing, investors, lenders and other market participants will be watching how pricing and buyer appetite develop for this Alpharetta office campus.
The post Avison Young Hired to Market 318,945-SF Milton Park Office Campus in Alpharetta appeared first on CRE Market Beat.
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