Tuesday, December 8, 2015

Ackerman & Co. Completes Acquisition of 4.1MSF Industrial Portfolio in Stone Mountain, GA

Kris Miller
Atlanta, GA – Ackerman & Co. announced it has completed the acquisition of Stone Mountain Industrial Park, a 4.1-million-square-foot purchase encompassing 69 buildings in the Tucker/Stone Mountain submarket of Atlanta, for $135 million.

The properties were originally developed and master-planned by the seller, Pattillo Industrial Real Estate. Ackerman and Pattillo have been two of the leading Atlanta commercial real estate companies for the last 50 years.

Ackerman & Co. partnered with Investcorp – an alternative investment manager and active real estate investor in Atlanta and the Southeast – to complete the transaction, which closed 75 days from award of deal.

"Both Ackerman and Pattillo have long and successful histories in Atlanta real estate,” said Kris Miller, President of Ackerman & Co. “Investcorp and Ackerman are fortunate to now own these well-built and strategically located properties," he added.

Stewart Calhoun
Stone Mountain Industrial Park has been maintained and managed by Pattillo since its original development. 

The diverse portfolio of shallow-bay industrial warehouses includes single-and multi-tenant configurations of front, rear and side-load designs ranging from 5,000 to 200,000 square feet. Most spaces offer outside storage.  

Cushman & Wakefield’s Stewart Calhoun, David Meline, Samir Idris and Casey Masters brokered the sale on behalf of Pattillo. “The Cushman team contributed significantly to the success of this complicated transaction and kept us on schedule,” said Miller.

“We congratulate Ackerman and Investcorp on their bold new investment. They are committed to an area that has a Community Improvement District, a newly incorporated City of Tucker and a sterling location that has served a strong business community for many years. Ackerman and Investcorp take leadership in this market at a moment that holds great potential,” said Larry Callahan, CEO of Pattillo Industrial Real Estate.

Twenty-five-year veteran and Ackerman & Co. Senior Vice President Brett Buckner, CCIM, SIOR, will manage the leasing and user-sales at Stone Mountain Industrial Park. Professional and on-site management will be provided by the Ackerman & Co. Property Management division.

For a complete copy of the company’s news release, please contact:

Fara Wilson
Vice President, Marketing
P: 770.913.3904    C: 678.358.2060    F: 770.913.3965

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