Build-to-Suit Medical Building Reaches 65% Lease Mark

ATLANTA-A development team led by local orthodontists Drs. Dan Dunwoody III and David Anderson has its single-story, 22,500-sf build-to-suit dental and medical office building 65% leased as groundbreaking gets under way at the Sugarloaf Parkway site in Gwinnett County’s business district.

Duke Realty Corp. is constructing the building for the medical group and expects to have it completed in May 2006. The building will be part of Duke’s 13-building, 1.2-million-sf Business Park at Sugarloaf mixed-used development. Duke and the developer group didn’t disclose the projected leasing rate range. Area brokers familiar with comparable build-to-suits tell GlobeSt.com the estimated minimum rent will probably be in the $25 to $30-per-sf range.

Duke sold the 3.5-acre site parcel to Lakeside-Sugarloaf in October of this year. Only 8,200 sf remains to be leased in the building, according to Dunwoody of the development group. “Interest in the building is growing daily,” he says in a prepared statement. Other developers in the group include Drs. Susan Anderson, Marie Schweinebraten, Mark Litterer, Aubrey Schor, Chris McFarland, Jim Smouse, John Freihaut and Harvey Silverman.