The Gwinnett Commerce Center, a 10-story office building in the Gwinnett Place area, was recently sold to new owners.
DULUTH — One of the Gwinnett Place Mall area’s premiere Class A office buildings has been sold.
The 10-story Gwinnett Commerce Center was purchased by a joint venture led by Biscayne Atlantic, based in Hollywood, Fla., along with Red Starr Investments and PointOne Holdings, said a press release from Cushman & Wakefield, which represented the previous owner Parmenter Realty Partners from Miami.
The sales price has not been disclosed, but the buyer selected C&W to be the exclusive leasing agent and property manager of the 213,563-square-foot office building.
“Gwinnett Commerce Center offers the buyer the prospect of achieving excellent returns by increasing occupancy levels and solidifying the property’s status as the premier Class A office building in Gwinnett County,” said David Meline, the executive director of C&W’s investment sales team.
The new owner plans to move forward with a comprehensive capital improvement program to enhance amenities and services for tenants, the release said.
“Our leasing and management teams are looking forward to this opportunity. Gwinnett Commerce Center offers numerous first-class amenities and an outstanding location at I-85 and Pleasant Hill Road,” said Andy Sumlin, the leasing director. “The recent completion of the Diverging Diamond Interchange project at I-85 and Pleasant Hill Road improves the building’s already excellent access to the Interstate.”
With a contemporary design highlighted by a two-story atrium, the building accomodates both large and small tenants, the release said. It also features a parking deck with a covered walkway, a full-service cafe, a conference facility, on-site management, 24/7 security and multiple access points.
The Gwinnett Commerce Center houses the offices of the Gwinnett Place Community Improvement District, among other local businesses.
“We look forward to working with the new owners as together we strengthen Gwinnett’s central business district at Gwinnett Place,” said CID Director Joe Allen.