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| 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.
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| 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.
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| 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
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