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Rubicon building sold. What that means for Social Security office
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The Rubicon office building located near Thompson Bridge on Lake Lanier has been sold. One of the occupants of the building is the Social Security Administration. - photo by Scott Rogers

Rubicon, a Mediterranean-style office building overlooking Lake Lanier in Gainesville, has changed hands for the first time in its 20-year history.

“We built it, we loved it,” said Garrett Backman, who owned the property with brother Charles. “We’ve got some other ventures we want to do and we needed some funds, so it was time to sell.”

The brothers sold the 50,000-square-foot building at 2965 Thompson Bridge Road in March to Alpharetta-based Octave Holdings & Investments. Backman said the purchase price was $6.4 million.

The building has about 80% occupancy, including local Social Security offices.

“The Social Security Administration has no plans to relocate the (office) from its current location at this time,” spokeswoman Patti Patterson said in an email Monday, April 26.

New owner Sri Marupudi said Octave Holdings is otherwise not planning any major changes to the building, which is known for its stylish architecture, including marble floors, cherry wood paneled walls and brass fixtures.

There may be some carpet and heating and air conditioning replacement, he said.

“We want to keep (the building) as is,” Marupudi said.

Octave wants the building to largely house health care offices.

“We know a few physicians in that area. We want to reach out to them and see if they would be interested in taking the vacant spaces,” Marapudi said.