MARIETTA, Ga., Aug. 10, 2023 /PRNewswire/ — TerraCap Management, LLC, a privately held investment firm with its headquarters in Naples, FL, announced today the sale of Cobb Corporate Center, a 196,000 square foot, five-building single-story office park located in Marietta, GA.
TerraCap acquired Cobb Corporate Center in July 2020 and began working on transforming the property. TerraCap invested in new roofs, updated landscaping, and installed new signage. These upgrades allowed the team to complete roughly 70,000 square feet of leasing during TerraCap’s ownership.
“Properties like Cobb Corporate show that office properties, especially single-story product, continue to perform well even in the turbulent times that we see in the office sector. It also shows that investing in the right physical improvements can lay the groundwork to attract tenants to buildings like this,” said Robert Witt, Asset Manager at TerraCap Management. “We are grateful to partners Matt Fergus, Seabie Hickson and Hunter Henritze at Lincoln Property Company to help lease the property, and Tom Shafer and John Hinson at OnPace Partners to help complete the sales transaction.”
“We are pleased with the positive outcome of this office investment. Investing only in growth markets since our inception has helped during volatile times. We are grateful to our team members and industry partners for their support and hard work during our ownership period,” said Steve Hagenbuckle, TerraCap Founder and Managing Partner.
About TerraCap Management, LLC
TerraCap Management, LLC considers thematic factors such as business formation, employment growth and population growth on a market-by-market basis, as most metros and submarkets have unique economic-based industries and therefore move through their economic cycles differently. TerraCap makes moderate strategic overweighting or underweighting to markets, depending on the specific economic drivers influencing supply and demand.
The Investment Manager has been in operation since 2008 with its headquarters located in Naples, FL. The firm also has offices in Tampa, FL, Atlanta, GA, and Denver, CO. As operators, TerraCap believes it can make decisions more efficiently while leveraging expertise from property to property. The firm has over eleven million square feet of commercial assets within its portfolio, with approximately $2.6 billion of assets under management.
More information can be found at terracapmgmt.com.
For More Information, Contact:
TerraCap Management LLC
SOURCE TerraCap Management