A joint venture of M & J Wilkow, Ltd. and Wayzata Investment Partners acquired Cobalt Center, two six-story Class A office buildings located in Alpharetta, Georgia. The 376,000 square foot property is currently fully vacant and therefore presents one of the largest blocks of contiguous Class A office space available in the southeastern United States. The Property was developed to high standards in 2001, as a build-to-suit office property serving as the second phase of Nortel Networks corporate campus.
"Cobalt Center is ideally suited to meet the current needs of large corporate users with excellent access to Georgia 400, a very efficient central core 33,000 square foot floor plate, and exceptional fiber connectivity" states George Manojlovic, Vice President, M & J Wilkow, Ltd. "While the buildings are in excellent physical shape we plan to make additional upgrades to the Property". The Jones Lang LaSalle leasing team of Glenn Aspinwall and Kevin Lott have been retained to provide leasing services.
The Property is located in Alpharetta, which is an affluent suburb approximately 20 miles north of Atlanta, Georgia. Alpharetta has grown from a community of a few thousand people in 1980 to nearly 60,000 today. The City is consistently recognized as one of the nation's best places to live or to relocate to. The area benefits from outstanding demographics with average household income in a five-mile radius in excess of $112,000.
Cobalt Center is located within the 3,400 acre Windward master-planned community which is centered around the recently expanded Windward Parkway interchange off of Georgia 400. The area features unrivaled amenities including; a private lake, award-winning schools, exclusive golf courses, sports facilities and a large selection of retail offerings. The Property is located along Westside Parkway, which is a north/south street that runs parallel to Georgia 400 and recently was expanded so that now it can be accessed at various interchanges along Georgia 400.