Friday, August 19, 2016

Ackerman & Co. closes $23 million sale of Braselton 85 Distribution Center in Braselton, Ga.

Braselton 85 Distribution Center, Braselton, GA

Atlanta, GA  – Ackerman & Co. announced it has completed the $23.2 million sale of Braselton 85 Distribution to Cabot Partners. The 440,165-square-foot, Class “A” bulk distribution center is less than two miles from I-85 and the Georgia Highway 211 interchange in Braselton, Ga. in the Jackson County corridor.

Kris Miller
The LEED Silver certified property is 100 percent leased to California-based Petco, who recently signed a 192,461-square-foot, five-year lease at the center, and Kichler Lighting who occupies the remaining balance of 247,704 square feet.

Braselton 85 Distribution Center is located in the sought-after I-85 Northeast submarket, approximately 50 miles northeast of Atlanta. 

The submarket has quickly become a prime logistics area, attracting a great deal of household name brand tenants including Mizuno, Whole Foods, Carter’s, Hitachi and Havertys.

“With vacancy in the low seven percent, high quality bulk warehouse product in the I-85 Northeast submarket is extremely competitive,” said Ackerman & Co. President Kris Miller.

“There are just a handful of bulk projects delivering in the next year and only two are over 550,000 square feet,” he added. Ackerman & Co. is set to deliver Braselton Logistics Center – a new one-million-square-foot bulk distribution center in Jackson County – first quarter 2017. 

Richard Banjo
Ackerman & Co. partnered with Artemis Real Estate Partners in November 2013 to purchase Braselton 85 Distribution Center for $14.1 million.

“The Ackerman team created significant value at the property and the investment returns exceeded our expectations,” said Artemis Managing Principal Rich Banjo.  “Atlanta continues to exhibit very strong growth and is a target market for our investment funds.”

CBRE’s Brian Budnick, Chris Riley and Frank Fallon marketed the property on behalf of Ackerman & Co. and Artemis Real Estate Partners. 

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

Fara Wilson
Vice President
Director of Marketing and Communications
P: 770.913.3904    C: 678.358.2060    F: 770.913.3965

No comments: