296 Brogdon Road, Suwanee, GA 30024
Suwanee Pointe is a newly constructed 205,645 square foot industrial building located in Gwinnett County, Ga. This build-to-suit is fully leased by Firearms Training Systems, Inc. a division of Meggitt Defense Systems. The lease is on a triple-net basis with a 10-year term. Firearms Training Systems is the leading worldwide producer of interactive weapons and training simulation systems. The company designs and provides training in the handling and use of small and supporting weapon systems. The Property will serve as the company’s U.S. headquarters.
Due to the nature of the use, the building is highly improved and thus has a rent structure higher than tradi- tional distribution space. The build out consists of 81,175 square feet (39.5%) of office and the entire facility will be fully air conditioned. Although the use is highly specialized and the property will contain a higher number of improvements, there are a number of comparable facilities and users, in the Suwanee submarket due to its excellent access to the states major highways and the strong demographics of the workforce.
Investment at a Glance
Property Type: Industrial/Distribution
Acquisition Date: May 22, 2008
Purchase Price: $17,800,000
No. of Buildings: 1
Square Footage: 205,645
Year Built: 2008
Leased Percentage (at the time of Acquisition): 100%