Sanctuary Park Outparcels_Property for Sale

Sanctuary Pkwy, Alpharetta, GA, 30004, US

Sanctuary Park Outparcels

Asset description

JLL is pleased to present the opportunity to acquire fee simple interest in Sanctuary Park outparcels, a collection of 3 commercial and residential development sites located within the master-planned Sanctuary Park office complex (the “Properties”). Located at the southern edge of Alpharetta, the Properties present a rare opportunity to develop raw land in a high barrier-to-entry submarket.

The portfolio includes three distinct properties: Lakeview III (4.80 acres), Stonebridge IV (6.88 Acres), and The Westside Parcel (14.33 Acres). Currently, all parcels are zoned L-I (Light Industrial), which permits a wide variety of commercial uses, including office, medical office, self-storage, and retail uses. However, there is the potential to rezone Lakeview III and The Westside Parcel for mixed-use development. Surrounding properties, such as the Iveybrooke Townhomes directly to the south, successfully underwent this rezoning process in 2023. The Properties may be purchased as a portfolio or individually.

Alpharetta remains one of the most sought after real estate investment markets in the Atlanta MSA. Alpharetta's affluence, high quality of life, and collection of walkable, mixed-use

focal points has made the city one of the most attractive places to buy and rent in the state. This tremendous demand have resulted in surging home sale prices, with the median home sale price being $781,000 in September 2024, which translates to a 75% increase over the past 5 years.

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Investment highlights

. Bulk Land Offering in a submarket with very few raw land opportunities

. Flexible in place zoning allows a developer to pursue build-to-suit office, self-storage, or a variety of other commercial uses

. Situated inside the successful Sanctuary Park office complex - which has notable tenants including EY, AON, SK Battery, McKesson, and Delta Dental.

. Immediate access to high quality on site amenities - including gated entry, walking trails, clubhouse, and fitness facility

. Strong precedent for residential and mixed-use rezonings in the immediate area surrounding the subject property

. With home and townhome sale prices regularly exceeding $1,000,000 in Alpharetta, the submarket remains the most highly sought after by homebuilders in the Atlanta MSA.