Spalding Exchange

Spalding Exchange is a medical and professional office park located in Norcross, GA. The park encompasses eight buildings and totals 52,541 SF. SugarOak purchased the property for $1.6 million in 2011, and sold it for $5.4 million in 2022, achieving a 32.26% IRR for investors.

The Challenge

  • Significant deferred maintenance
  • Tenant occupancy was 41% upon purchase.

The Solution

  • Spent over $1.5 million on capital improvements to the property
  • Aggressive and innovative leasing strategy led to an increase in occupancy to 91% at time of sale.

The Results

  • Property was sold for $5.4 million in 2022
  • 26% IRR
  • Total return to investors was 381% over ten years

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