Cushman & Wakefield announced today that the firm represented locally based MK Asset Management in leasing 26,588 square feet at Franklin Oaks to Pivotal Retail Group, bringing the 152,000-square-foot property’s occupancy rate to more than 80 percent.
Cushman & Wakefield Senior Managing Director Pat Murphy and Associate Boris Garbuz represent MK Asset Management in leasing the Marietta, Ga., property. Since winning the assignment, Murphy and Garbuz increased the occupancy from 66 percent to above 80 percent.
The four-building complex is located on Franklin Gateway in the Gateway Marietta CID corridor, just three miles from the future site of SunTrust Park, where the Atlanta Braves will play next season.
“We’ve been fortunate to work with a great team at MK Asset Management and to have such a high-profile, sought-after location to sell to potential tenants,” Murphy said. “Because of all that, along with the area being a Tax Credit Opportunity Zone, we’ve achieved significant results at Franklin Gateway by attracting Pivotal Retail Group and other tenants.”
The location is a key one in Marietta due to the city’s efforts to revitalize the corridor into an active office, retail and sports related destination for people in the Atlanta area. Franklin Oaks’ success has been a rewarding development for the City of Marietta.
“Marietta welcomes Pivotal Retail Group and its employees to the City of Marietta,” said Beth Sessoms, Marietta Economic Development Manager. “Its investment shown in moving into Franklin Oaks is another example of the positive effect of the Redevelopment Bond in bringing new jobs to Franklin Gateway and the City.”
About MK Asset Management
Founded in 2007, MK Asset Management is a leading boutique real estate development, investment and management firm with a portfolio in the Midwest and Southeast United States. The firm’s attention to detail and strong financial relationships allow for a variety of capital structures. The principals of MK bring well over $1B of transactional experience and provide a nimble, forward thinking, solution based approach to transactions offering a variety of structures including quick closings that lends itself to the highest possible success of each transaction. MK pursues quality and value whether it be through existing assets with in place tenants, repositioning of an asset or ground up development MK has a focus on asymmetric risk/reward opportunities to deliver appropriate risk adjusted investment returns.