Saturday, May 23, 2020

JLL closes sale of Atlanta distribution facility

Matt Wirth,


ATLANTA, GA – JLL Capital Markets announced it has closed the sale of PVH Distribution Center, a fully leased, 851,349-square-foot, Class A warehouse and distribution facility leased to an investment-grade tenant in the metro Atlanta community of McDonough, Georgia. 

 JLL marketed the property on behalf of the seller. FHR Capital, LLC, on behalf of an unnamed institutional investor, purchased the asset.

 Completed in 2006, PVH Distribution Center is triple net leased to PVH Corp. (NYSE: PVH), one of the largest fashion and lifestyle companies in the world with $9.7 billion in revenue in 2018 and a current investment grade credit rating of Baa3 'Stable' from Moody’s.

Dennis Mitchell
Situated at 127 Liberty Industrial Parkway, PVH Distribution Center is 37 miles southeast of downtown Atlanta and adjacent to Interstate 75, one of Atlanta’s critical industrial corridors.

The property’s McDonough location allows it to draw from a strong local labor force and provides easy access to Hartsfield-Jackson Atlanta International Airport, which is 23 miles away, and the Port of Savannah, which is 218 miles away. PVH has occupied the facility since 2010.

 The JLL Capital Markets team representing the seller was led by Matt Wirth, Dennis Mitchell, Britton Burdette and Crosby Taylor.

 “This transaction is really a testament to the quality of buyer and seller involved,” Wirth said. “Each side navigated the current market conditions with a collaborative and sensible mindset and executed flawlessly to bring the transaction to fruition.”

Britton Burdette
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 advisory, debt placement, equity placement or a recapitalization.

The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: U.S. newsroom.

About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. 

 Crosby Taylor
JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. 

JLL is a Fortune 500 company with annual revenue of $18.0 billion, operations in over 80 countries and a global workforce of more than 94,000 as of March 31, 2020. 

JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.



CONTACT:

Kimberly Steele
 JLL Senior Associate
 Public Relations
Phone: +1 713 852 3420



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