Briarwood One Office Center
Value-Add Class B Suburban Office Tower in New Market Tax Credit Zone
RealINSIGHT Marketplace and The Cress Group are pleased to offer the opportunity to acquire Briarwood One, a 93,734-sf Class B suburban office tower located in Jackson, Hinds County, Mississippi (the “Property” or “Tower”).
Value-Add Opportunity – As of January 1, 2019 the Property was 49.67% leased and occupied by a diverse mix of 16 long term local tenants occupying 21 units, which includes two businesses owned by the former Borrower. This provides investors an opportunity to add value through strategic lease-up of the Property.
Excellent Visibility and Access – The Property is conveniently located at the intersection of Interstate-55 and Briarwood Drive, providing excellent exposure and access.
Easily Configurable Property – Several different space configurations are available, including a “ready to go” space on the second floor that was previously occupied by Strayer University and is complete with furniture, fixtures, and equipment.
New Market Tax Credit Zone - The Property sits within a qualified, severely distressed New Market Tax Credit zone which may give the purchaser certain capital gains tax advantages.
As of January 1, 2019, the Property was 71.2% occupied by a diverse mix of 16 local tenants occupying 21 units, including two businesses owned by the former borrower. The Property consists of one five-story office tower situated on a 4.48-acre site located at 460 Briarwood Drive, Jackson, Hinds County, Mississippi. Constructed in 1982 and renovated in 2006, the Property contains approximately 93,734 net rentable square feet. The Property contains 410 parking spaces (4.34/1,000 sf).
Disclaimer: The information being provided herein is for informational purposes only. No representation or warranty is made as to the accuracy or completeness of any information contained herein, including, without limitation, any information regarding the condition of the Property, the condition of title or Property descriptions.
Any documents and/or pictures posted herein or elsewhere on the RealINSIGHT Marketplace, (the "Website") are for informational purposes only, and may not represent the current condition of the Property or the condition of the Property at the time of sale. The posting of pictures herein or elsewhere on the Website does not constitute a guarantee that any items represented in the pictures will be present when the buyer takes possession of the Property.
You are encouraged to conduct your own due diligence and investigate all matters relating to the Property. It is recommended that you seek independent advice, including legal advice, to perform your due diligence and that you use good faith efforts in determining that the content of all information provided to or obtained by you is accurate.
460 Briarwood Drive, Jackson, MS 39206