Wednesday, March 29, 2017

Ackerman & Co. Completes Industrial Building Sale in Stone Mountain, GA Industrial Portfolio

Brett Buckner
Atlanta, GA – Ackerman & Co. has completed the $1.8 million sale of 1911 Mountain Industrial, a 24,833-square-foot, single-tenant industrial building within the company’s Stone Mountain Industrial Park located in the Tucker/Stone Mountain submarket of Atlanta, Ga.

With retail-quality location and a five-year lease term remaining, the building is fully occupied by Eckhart, one of the top electrical contractors in Georgia for the last 80 years. 

 The property was sold – in an off-market deal – to a local real estate investor.  Ackerman & Co. Senior Vice President Brett Buckner and Associate Major Martin represented the landlord in the transaction.

Ackerman & Co. acquired the 4.1-million-square foot Stone Mountain industrial portfolio in December 2016. Through careful improvements and on-site leasing and management, occupancy has increased to 91 percent, up from 84 percent at time of purchase.

“This is a well occupied, cash flowing asset with tremendous upside potential,” said Brett Buckner. “Our buyer was excited about the opportunity to purchase a property with future redevelopment potential in a proven submarket,” he added.

The company has identified and is marketing additional buildings for sale at Stone Mountain Industrial Park and will continue to focus on the lease-up of existing vacancies.

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: