Exited - Office
When Cobb County Transit was formed, the EpiCity owned Commerce Park property was designated for the bus depot. EpiCity sold the asset under threat of 1033 condemnation, which provided an extremely tax-favorable and profitable exchange. However, with a strict reinvestment time limit in place, EpiCity needed to quickly find a desirable acquisition for the proceeds.
EpiCity identified this unique asset in Roswell and felt it had significant potential. A two story, brick office building, the property had previously been leased to a single tenant. At the time of purchase however, it was vacant. EpiCity leaders knew it would require some smart marketing to find the right occupant, but they were confident it could work.
After holding the asset for the required 9 months and employing an aggressive promotional strategy, EpiCity located a user whose needs were a perfect fit for the unique characteristics of the building. At that time, the property was sold for a profit.
Property Address: 1686 Lower Roswell Road, Marietta, GA 30068
- CoStar Submarket: East Cobb