Serta Simmons Headquarters
Serta Simmons Headquarters
Location: atlanta, ga
Status: Completed, sold
Property Type: office, r&d, showroom
Closed:
Completed: March 2019
Serta Simmons Bedding Corporate Headquarters is a build-to-suit corporate office project developed by Holder Properties following a competitive selection process led by JLL. Holder coordinated site selection in partnership with JLL to support the consolidation of four Metro Atlanta offices into a single headquarters location. The project was ultimately sited at Assembly Yards, a 140-acre former General Motors plant in Doraville, marking the first vertical development within the broader master-planned district.
Development was executed under complex conditions, including master-planned governance requirements, challenging soil conditions, brownfield environmental remediation, shared infrastructure coordination, and the integration of government and tax incentives. The tenant took occupancy and commenced operations in April 2019. At project commencement, Holder executed a pre-sale agreement with Angelo Gordon to acquire the asset upon completion and lease commencement, locking in profit while delivering certainty of execution for all parties.
210,000
RENTABLE SQUARE FEET
100%
OCCUPANCY AT SALE
$56.9 MM
BUILD COST ($000s)
$ PSF: $271
21 MONTHS
HOLD PERIOD (mos)
1.33x
REALIZED MOIC
17.5%
REALIZED IRR
$61.2 MM
SALE PRICE ($000s)
$ PSF: $291
EXIT CAP RATE: 7.30%