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| Kris Miller |
Atlanta, GA – Ackerman & Co., a
full-service commercial real estate firm, announced the recent acquisition of a
three-building industrial portfolio in the Westgate
Business Park in Atlanta, Ga. The three buildings (5215, 5245 and 5260
Westgate Drive) were purchased in an off-market deal from Clarion Partners, LLC
for $7.55 million.
The three well-located,
front-load, shallow-bay industrial buildings total 274,791 square feet and are
fully occupied. Ackerman & Co.’s in-house team will provide leasing and
management services for the new acquisition.
The deal was facilitated by Cushman and
Wakefield’s Stewart Calhoun and Casey
Masters. The all-equity transaction was sourced through a new partnership
with a leading European private equity group.
“The I-20W/Fulton
Industrial Submarket continues to be a top performer with low vacancy and
steady quarter-over-quarter average rental rate growth,” said Kris Miller, President of Ackerman
& Co. “We are very excited about this opportunity to purchase highly
functional industrial properties in a key submarket,” he added.
The company plans to
continue expanding and upgrading its industrial real estate presence, primarily
through shallow-bay and bulk industrial acquisitions, throughout of Metro
Atlanta. Ackerman & Co. is currently developing a 1,000,812-square-foot
bulk distribution center in the I-85 Northeast Atlanta submarket.
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
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