The lack of office space in Brookhaven has not gone unnoticed by developers looking to find a niche market that also lures companies from the crowded streets of Buckhead.

Stream Realty Partners was set to begin renovation this month of the former Bagcraft Papercorn warehouse at 2700 Apple Valley Road to create a 70,000 square-foot loft office space on a 3-acre plot. The refurbishing of the warehouse is expected to be completed in October.

“There are companies who want to get out of Buckhead … and not put up with paid parking and high rental rates and are ready to make the switch” to another area, said Bradley Dunn, an associate with Stream’s office in Atlanta.

Stream is betting that Brookhaven is the place where these companies will be willing to relocate to.

William Stark, vice president of Stream’s Atlanta office, said a lot of the appeal for the space is it being tucked away, giving it an “exclusive feel.” Its location near Brookhaven MARTA’s station, walkability to Brookhaven’s Dresden Drive retail and the fact it overlooks a neighborhood park are also selling points.

The site will also have plenty of parking – something not readily available in Buckhead.

“There will be 15,000 square feet of parking,” he said. “This is an old industrial building with old brick … we envision this as a nice neighborhood building.”

The loft office space will be much different than the glass towers that dominates Buckhead’s office space, Stark said. Design plans by architect Perkins + Will include high ceilings, a mezzanine, lots of natural daylight coming in through large windows, garage door openings and a courtyard.

“We’re marketing to executives who live around Capital City, who live near Ashford Park,” Stark said

At full capacity, the building will hold 315 employees. Stark said there have been some early discussions with retail and restaurants to include that as part of the development as well. “We do want a small retail component,” he said.

The building has been vacant for five years and Stark said besides bringing business to Brookhaven, his company’s plan is to make the loft office space a “great addition to the community.”

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