Commercial Projects

The Seng Company and Weaver Capital Partners along with an institutional partner acquired Guardian Self Storage, a 330,000 square foot mixed-use facility located in the heart of Chamblee. Situated on more than 14-acres, the property offers significant frontage along Peachtree Boulevard as well as immediate access to a MARTA rail station in corridor that is experiencing significant new retail and mulit-family development. The project offered both significant in-place cash flow from the existing self-storage, warehouse, and office components as well as opportunities to increase income from additional leasing and re-tenanting of vacant space.

The Seng Company and Weaver Capital Partners acquired this 1,255 square foot retail building and adjacent billboard space in this highly desirable area of Midtown Atlanta in September 2015. The property was fully leased with a retail tenant and a billboard operator on short-term leases. After closing on the acquisition, the leases were renegotiated to extend the existing terms with both tenants. Subsequently, the property was sold to a private commercial real estate company.

The Seng Company and Weaver Capital Partners acquired this 25,000-square foot REO flex/office building from a community bank at a significant discount to the prior loan basis. Registering approximately 50% in-place occupancy at closing, the property offered significant upside potential due to its strategic location in a sought after area of the intown Atlanta market. Notably, the foreclosure of the property was due solely to the difficulties of the prior owner, independent of the real estate. With the acquisition, a lease was executed to provide the new headquarters location for Big Nerd Ranch (www.bignerdranch.com), a technology consulting and mobile-app development firm. Upon reaching full occupancy, this project was marketed and sold to a private investor.

The Seng Company partnered with Glenfield Capital (www.glenfieldcapital.com) in their acquisition of 2120 & 2124 Barrett Parkway Drive, comprising more than 150,000 square feet of office space. Located in Kennesaw, GA, the acquisition represented a significant discount to replacement cost due its prior use by a Fortune 50 company, and the existing tenant rents provided a margin of safety to comparable market rates. The property is currently 100% leased and occupied by two international companies providing a substantial current income yield with the potential for long-term appreciation in value.

The Seng Company and Weaver Capital Partners along with an institutional partner acquired 315 Ponce (previously named Decatur Court), a 125,000 square foot office building strategically located in the downtown Decatur, GA market. Acquired at a significant discount to the prior loan basis, this REO property offered tremendous upside based on its then current occupancy as well as the potential redevelopment of the overall site. Since closing, the project has entered into an agreement with Atlanta developer Carter (www.carterusa.com) for a more than $40 million mixed-use redevelopment to add an additional 240 apartments and 10,000 square feet of retail space. For more information on retail and office leasing at Decatur Court, please contact us at contact@sengcompany.com.