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JLL’s Land Investment Advisory team, as sole and exclusive agent for the owner, has been engaged to market for sale 1.64-acres at 1034 Hammond Dr in Sandy Springs, GA (the “Subject Property” or “Property”). Located in the Central Perimeter business district, the Property presents the rare opportunity for speed to market in a high-growth corridor with in-place, mixed-use zoning.
1034 Hammond is zoned PX-10/12, a mixed-use designation allowing for building height of 10 stories as a base and 12 stories with bonuses. There is currently no FAR cap, allowing developers to push density, with the only limitation being the height restriction. The Seller has drawings in hand for a residential, multi-family development with 356-units, allowing a multi-family developer to step in and immediately activate the site.
The Central Perimeter and Sandy Springs submarkets have seen tremendous growth over the past 5 years. While Sandy Springs has historically been an affluent community, developments such as the Sandy Springs Town Center and the new High Street mixed-use development are transforming the area into an urban center with lifestyle amenities and walkable retail. Home to international headquarters and nationally renowned medical facilities, this world class location is unparalleled. Walkable to MARTA stations, grocery, fine dining, and shopping, 1034 Hammond offers superb connectivity for future residents or employees.
Speed to Market: With in-place, mixed-use zoning and construction drawings in hand, 1034 Hammond allows for the rare opportunity for a developer to step into a zoned site in a submarket with high barriers to entry
Substantial Economic and Population Growth: There is currently 3M+ SF of office space currently proposed or under construction in the Central Perimeter submarket, bringing thousands of jobs to the area. The City of Sandy Springs is also undergoing a wave of population growth that has far outpaced new housing deliveries in recent years.
Superb Amenity Base and Connectivity1034 Hammond is located in close proximity to over 200+ shops, restaurants, bars, and retail, and walkable to the new High Street mixed-use development that is expected to transform the Central Perimeter area. The new GA-400 and I-285 infrastructure projects that are currently underway will be complete by time of delivery, providing access to Cumberland Galleria, Buckhead, and Midtown Atlanta.
World Class Perimeter Center Location: Home to Atlanta’s largest employment base, 37 Million square feet of office, three Fortune 500 Headquarters, and three nationally acclaimed medical facilities totaling 20,000+ jobs, all located minutes away from 1034 Hammond.
Tremendous Rent Growth: Central Perimeter has seen significant rent growth over the past 2 years, with year over year rent growth of 12.9%. Sandy Springs/ Dunwoody ranks as one of the top submarkets in the country for trailing 12-month deal volume, and the price of assets is above average for the metro, with average cap rates that are some of the lowest in suburban Atlanta.