Ackerman & Co. Purchases 3-Building, 123,900 SF Portfolio North of Atlanta, GA for $5.5 Million

 

Leo Wiener

Atlanta, GA – Continuing its focus on acquiring strategically located industrial/flex properties, Ackerman & Co. has purchased a three-building, 123,900-square-foot portfolio in Norcross, Ga., comprising a mix of industrial, flex and retail space.

Ackerman purchased the buildings, located at 6889-6901 Peachtree Industrial Boulevard, from Mimms Enterprises for $5,500,000 ($44.39/SF) and will rename the property Peachtree Corners Exchange.

Evan Ziegler

 The acquired properties include 6889 Peachtree Industrial Blvd. (24,800-square-feet retail/ showroom/flex), 6899 Peachtree Industrial Blvd. (70,000-square-feet industrial/flex) and 6901 Peachtree Industrial Blvd. (29,100 square feet industrial/flex).

 Ackerman & Co.’s Leo Wiener and Evan Ziegler led the acquisition effort on behalf of Ackerman & Co.

David Beak of NAI Brannen Goddard represented seller Mimms Enterprises. Ackerman’s Frank Farrell and Chris Miller will lead leasing efforts at the properties.

David Beak

 “This purchase is part of our ongoing investment strategy to acquire close-in industrial product strategically located near the I-285 perimeter,” said Kris Miller, President of Ackerman & Co.

“The property was purchased at well below replacement costs, and we believe this opportunity gives us an irreplaceable location and the ability to offer rents at very attractive rates, consistent with our close-in industrial investment strategy.”

The showroom and retail space at 6889 Peachtree Industrial Boulevard benefit from excellent visibility from busy Peachtree Industrial Boulevard.

Kris Miller

6899 and 6901 Peachtree Industrial Boulevard feature 20-foot ceiling heights, 8’ by 10’ dock-high doors and 10’ by 10’ drive-in doors. 

 Ackerman plans to invest in major capital improvements which will include a variety of physical upgrades to meet current demands of tenants in the market.

CONTACT:

 Steve Webb 

swebb@ACKERMANCO.NET