SugarOak Announces Acquisition of Spalding Exchange Office Park in Norcross, GA

Herndon, VA - October 26, 2011 - SugarOak, a Virginia based owner/developer of commercial properties, announced the acquisition of the Spalding Exchange Office Park, 55,000 sq ft, in Norcross, Georgia.

Spalding Exchange is located off of Holcomb Bridge and is comprised of eight separate, Williamsburg style buildings. 

“We see tremendous upside potential for Spalding Exchange” said John MacDonell, asset manager for SugarOak. “We will move aggressively to revitalize the property and are confident it can once again be one of the premier office parks within the area.”

SugarOak is a full service real estate company offering investment, management, and construction services across multiple property types. Headquartered in Herndon, Virginia, SugarOak has ownership interests and management portfolios across the U.S. and Canada.

On the Rise to Once Again Become Two of the Premiere Office Parks in Norcross, GA

Norcross, GA- Acquired in April 2010 as part of the newly formed SOF Real Estate Fund, Crossings Center on Holcomb Bridge and Crossings Center on the Parkway are in the process of aggressively being repositioned to once again become two of the premier office parks in the area.  Façade and interior renovations combined with new landscaping and signage are just a few of the improvements.  The recent upgrades and change in leasing strategy have produced results.  Multiple new leases have been completed to date totaling over 32,000 square feet, which equates to over a 20% increase in occupancy, from 48% to 69%.   Twelve renewals have also been completed totaling over 42,000 square feet.  Leasing and management now looks to maintain the momentum through the Fall and into 2012.  Please visit www.crossingscenter.net for more information on the property.