2295 Skelton Road is a 22,000 square foot small bay industrial property in Gainesville, Georgia, built in two phases in 2001 and 2004 and located one block off Browns Bridge Road near Lowe’s, Target, and Home Depot. The asset has been owned by the original developer who built it on family land, and it has been under managed for years, evidenced by the appraised value coming in 25% above the purchase price at closing. Recent leases have been executed at $1.00 PSF, in place rent is $0.87 PSF, and market rent is $1.25 PSF, creating meaningful mark-to-market opportunity.
