 |
Seaboard Park, an eight-building
light industrial complex totaling
267,442 SF in Atlanta’s
West Midtown area. |
ATLANTA,
GA, Feb. 8, 2022 – JLL Capital
Markets has closed the sale of Seaboard Park, an eight-building
light industrial complex totaling 267,442 square feet in Atlanta’s West Midtown
area.
 |
Maddie Davis
|
JLL marketed
the property on behalf of the seller, a partnership between SilverCap
Partners, Weaver Capital Partners and The Seng Company. Link Logistics acquired
the asset.
Seaboard
Park is 95 percent leased to six tenants in diverse industries, including
Georgia-Pacific, InterContinental Hotels Group, Zep and Door Dash. The property
offers the tenants features such as multiple loading positions and ample
parking.
 |
Matt Wirth
|
From its irreplaceable location at 1310 Seaboard
Industrial Blvd NW, Seaboard Park’s
tenants can reach over 1.5 million people – comprising the majority of their
respective customer bases – in under 30 minutes.
The facility is proximate to some of Atlanta’s critical
logistical infrastructure, including Interstates 75 and 285, the Norfolk
Southern – Inman Rail Yard and CSX Howell yard.
Additionally, it is in Atlanta’s Upper Westside, a rapidly
developing extension of West Midtown that provides proximity to Buckhead,
Midtown and the Northwest Atlanta suburbs.
 |
| Huston Green |
The
facility is within the Atlanta’s Chattahoochee Industrial submarket, a highly
sought-after, infill submarket.
According
to JLL Research’s Atlanta Industrial Insight report, this submarket ended
the fourth quarter of 2021 with a low 4.1 percent.
Additionally,
with no completions and no space currently under construction at the end of
2021, competition for space is high for both tenants and investors attracted to
infill industrial product.
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, with assistance from Joseph
Rogers and Jamie Hargather with Wilson Hull & Neal.
 |
| Dennis Mitchell |
“The
deep and varied buyer pool for Seaboard Park was evidence of the continued
demand for irreplaceable infill industrial assets,” Wirth said."Along
with the extreme growth potential in rental rate from an industrial
perspective, the Upper Westside location also means there’s unique long-term
upside and flexibility with the potential for adaptive reuse.
"It’s
rare to find those qualities while also having a significant credit story,
which the seller was able to put together in leasing the buildings to tenants
like Georgia-Pacific, IHG, DoorDash and Saltbox.”
 |
| 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 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.
For
more news, videos and research resources on JLL, please visit our newsroom.
 |
| Jim Freeman |
About
SilverCap Partners
SilverCap
Partners is a real estate private equity firm focused on the Southern
Sunbelt region of the United States.
The firm's expertise crosses multiple
property sectors with a predominant focus on industrial, residential and office
investments.
SilverCap
operates in segments of the real estate market where it has high conviction in
the long-term demand drivers and believes a combination of capital and
operational expertise can serve as a positive catalyst for future value.
About Weaver
Capital Partners
Weaver
Capital Partners was formed in 2013 and primarily focuses on value-add real
estate. The company was founded by Jay Weaver, who is based in Charleston,
South Carolina, and develops office, industrial, retail and mixed-use
properties in the Southeastern United States.
 |
| Jay Weaver |
During his 25-year history in
real estate, he has capitalized on exploiting trends, finding untapped value
and avoiding marketplace competition. His development experience includes both
renovating and repositioning buildings as well as ground up construction.
Projects include Puritan Mill in Atlanta, Edgehill Village in Nashville and the
Cigar Factory in Charleston.
About
The Seng Company
The Seng Company is
a private real estate investment firm that is active in acquiring or
capitalizing commercial and residential real estate in the Southeast.
 |
| Joseph Rogers |
The firm
seeks opportunistic and value-add investments across all major commercial
property types including office, industrial, retail, residential, hotels and
mixed-use projects. While applying their strict investment discipline, The Seng
Company has the ability to provide capital in a broad range of debt or equity
structures and positions within a project’s overall capitalization.
The Seng
Company’s success in realizing attractive risk-adjusted returns is rooted in our
adherence to an investment discipline focused on value and risk control.
About
Link Logistics
Link
Logistics, established by Blackstone in 2019, is a leading national provider of
logistics real estate solutions designed to meet the needs of the modern supply
chain.
 |
| Jamie Hargather |
The company operates the largest portfolio of high-quality logistics
real estate assets located exclusively in the U.S.
Link Logistics has more than
5,800 customers and 400 million square feet of logistics facilities across key
distribution markets, particularly strategic last-mile locations in the U.S.
Link Logistics has the scale, geographic footprint and logistics expertise, as
well as a heightened focus on sustainability to power the supply chain of
tomorrow.
About
JLL
JLL
(NYSE: JLL) is a leading professional services firm that specializes in real
estate and investment management. JLL is a Fortune 500 company with
annual revenue of $16.6 billion, operations in over 80 countries and a global
workforce of more than 95,000 as of September 30, 2021. JLL is the brand name,
and a registered trademark, of Jones Lang LaSalle Incorporated.
CONTACT:
Kimberly
Steele
PR, Capital Markets,
Agency Leasing and
Valuation Advisory
JLL
T
+1 713 852 3420
M
+1 832 244 9994
JLL.com
weavercapitalpartners.com
jll.com.
linklogistics.com.
