Last-mile Atlanta-area industrial portfolio sells for $27 million

 

Maddie Davis

 ATLANTA, GA – JLL Capital Markets has closed the $26.9 million sale of a four-property industrial portfolio totaling 278,558 square feet across Atlanta’s northern suburbs.

 JLL marketed the property on behalf of the seller, Tamarack Investments, who sold the portfolio to two buyers.

Matt Wirth

Faropoint acquired these three assets: 

 4680 North Royal Atlanta Dr. in Tucker, GA; 

5121 Buford Hwy. in Norcross, GA;

 2100 Boggs Rd. in Duluth, GA.

 Denali Investment Group purchased the property at 1420 Redi Rd. in Cumming.

 Each property is in a densely populated and well-established Atlanta Industrial submarket, including the Northeast, I-20 East and North Central, both of which are experiencing increased demand for infill, last-mile industrial product.

Dennis Mitchell

The properties are all less than five miles from the area’s major logical thoroughfares, including Interstates 85, 75 and 985 and GA-400.

Additionally, they are all within 36 miles of the Atlanta CBD, four of which are within 25 miles.

 Currently 80 percent leased on a triple-net-lease basis, the single-tenant buildings offer a variety of uses, from light industrial to manufacturing and processing.

They were constructed between 1986 and 1991 and feature multiple loading positions, clear heights ranging from 18 to 30 feet, ample office finish and parking and varying building depth.

Britton Burdette

The JLL Capital Markets Investment Sales and Advisory team that represented the seller was led by Matt Wirth, Huston Green, Dennis Mitchell, Britton Burdette, Jim Freeman and Maddie Davis.

 “The portfolio was defined by the building locations in very dense, suburban, infill locations, and the ownership group was flexible about selling as a portfolio or in multiple transactions,” Freeman said.

“Ultimately, the process resulted in two buyers for two different segments of assets, one with stabilized buildings and significant mark-to-market potential, and another with near-term vacancy and a compelling lease-up opportunity to create value.”

 

Jim Freeman

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers.

 The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization.

 

The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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 CONTACTS:

 Kimberly Steele,

JLL Manager,

Public Relations

Phone: +1 713 852 3420

Email:  Kimberly.Steele@am.jll.com

 

Jason Chaliff, jason@investdenali.com

 or Michael Godin, michael@investdenali.com.

faropoint.com.

investors@tamarackinv.com.

William Ross, William@faropoint.com.