Hanover pays $12.2 million for a Duluth office site, plans 305 apartments

Houston-based Hanover Company paid $12.24 million, brokers say one of the highest land prices in Gwinnett County this year, for a 7.86-acre office site at 1855 Satellite Boulevard in Duluth, across from the Gas South District. SSG Realty Partners' David Branch and Ackerman & Co.'s John Speros represented seller SP Sugarloaf LLC.

Hanover is demolishing the existing 56,000-square-foot office building to build Hanover Sugarloaf, 305 Class A garden-style apartments within walking distance of the Kroger-anchored Sugarloaf Parkway Shopping Center. The project is still in pre-development, with no completion date announced and no renderings released yet.

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