Friday, March 3, 2017
Ackerman & Co. Announces Off-Market 274,791-Square-Foot Acquisition in Atlanta’s I-20W/Fulton Industrial Submarket
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:
Director of Marketing and Communications
P: 770.913.3904 C: 678.358.2060 F: 770.913.3965
Posted by Alex at 1:25 PM