DULUTH, GA. — Biscayne Atlantic, a South Florida-based real estate investment group, has sold the Gwinnett Commerce Center, a 213,600-square-foot, 10-story office building located in the Atlanta suburb of Duluth, for $26.8 million. The name of the buyer was undisclosed. The Class A office building’s tenant roster includes The College Board, Mutual of Omaha, Department of Veteran Affairs, Penske Truck Leasing, Faith & Freedom Coalition, Federal Energy Regulatory Commission and Travelsky. Biscayne Atlantic purchased the Gwinnett Commerce Center in July 2013 for $20 million and invested approximately $1 million in capital improvements to upgrade the building’s operations and modernize the lobby and common areas. During Biscayne Atlantic’s ownership of the property, occupancy increased from 73 percent to 85 percent and NOI jumped by 25 percent.
Gwinnett Commerce Center’s tenant roster includes The College Board, Mutual of Omaha, Department of Veteran Affairs, Penske Truck Leasing, Faith & Freedom Coalition, Federal Energy Regulatory Commission and Travelsky.
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