Hawks Landing - Building 1

Office for Sale
Catylist Listing ID: 30482997
Property Subtypes: Business Park, Office Building
Building Size (RSF): 50,500 SF
Gross Building Area: See Agent
Gross Land Area: 7.80 Acres
Sale Price: $11,060,429
Unit Price: $219.02 PSF
In Opportunity Zone? Yes
Property Use Type: Investment
Building Name: Hawks Landing - Building 1
Class of Space: Class A
Sale Terms: Cash to Seller
Cap Rate: 8.5%
Average Occupancy Rate: 100
Last Updated: 10/18/2019

Overview / Comments

Avison Young is pleased to offer to qualified investors the opportunity to purchase a Class A Office Building located in the Knoxville, TN area. Building One is currently 100% leased by Accenture (https://www.accenture.com). Accenture also leases a full floor in the adjacent building. Current rent for parking is $283,000 which includes the land and amortization of construction cost through the end of the initial term. Upon renewal, the rental rate will be based on the value of the unimproved land which will be determined by an MAI appraiser (see lease for more detail).

Current Tenants

Tenant Business Name Accenture
Is Renting? Yes
SF of Space Occupied 50,500 SF

Additional Details

Nearest MSA: Knoxville
County: Blount
Tax ID/APN: 008 160.00; 017 020.00, 021.01
Zoning: IC
Property Visibility: Excellent
Highway Access: Located in the southeast quadrant of the I-140 and Topside Road interchange.
Airports: Less than 10 minutes to McGhee Tyson Airport
Total Number of Buildings: 1
Number of Stories: 2
Typical SF / Floor: 25,250 SF
Year Built: 2006
Year Renovated: 2017
Roof Type: Flat
Construction/Siding: Brick, Steel Frame
Parking Ratio: 10.2 (per 1000 SF)
Parking Type: Surface
Total Parking Spaces: 518
Passenger Elevators: 1
Sprinklers: Wet
Air Conditioning: Engineered System
Internet Access: T1/T3, Fiber Optic
Part of Planned Development?: Yes
Water Service: Municipal
Sewer Type: Municipal
Easements: Ingress/Egress

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Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 13,247 70,063
Median Age: 40.56 40.77
Households: 5,644 29,439

Contact

Photograph of Listing Agent

Brian H. Tapp, CCIM

Avison Young KAAR CIE Member
Photograph of Listing Agent

John M Adams III, CCIM SIOR

Avison Young KAAR CIE Member
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