Kimball Royal

Kimball Royal is a two-building office park located in Alpharetta, Georgia, consisting of 60,352 square feet. It was purchased by SugarOak in December of 2013 for $3.85 million, and sold in 2018 for a total of $6 million, achieving an IRR of 16.72% for investors.

The Challenge

  • Improving occupancy in buildings with difficult layouts

The Solution

  • Spent $780,000 on improvements to both buildings
  • Restructured investment to sell buildings separately
  • Sale of building 3060 to an owner user for $3 million and relocation of some tenants to building 3050

The Results

  • Building 3050 sold at 100% occupancy for $3 million in 2018, bringing total sales price to $6 million
  • IRR of 16.72% over a 4.5-year hold
  • NOI increase of 20% from purchase to sale

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