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| Melissa Rose |
ATLANTA, GA – JLL Capital Markets has closed on the sale and financing of 120 Interstate NW, a four-building light industrial business park in Atlanta, GA. Financial details were not disclosed.
JLL represented the seller, Albany Road Real Estate
Partners, while Adler Real Estate Partners acquired the property. Additionally,
JLL worked on behalf of the new owner to secure an acquisition loan.
Matt Wirth
The property is currently 97% leased and boasts a diverse
tenant base of 35 tenants. This institutional-quality portfolio spans 281,677
square feet and features flexible dock high and grade level loading
configurations along with abundant parking.
Strategically located in Northwest Atlanta's
Cumberland-Galleria business district, 120 Interstate NW offers easy access to
various popular districts and neighborhoods, including The Battery, Buckhead,
Downtown and the Cumberland Community District.
This advantageous position allows tenants to access
Atlanta’s most prosperous demographics, schools and centers of population
density.
Dennis Mitchell
The JLL Capital Markets Investment Sales and Advisory
team was led by Senior Managing Directors Matt Wirth, Dennis Mitchell and
Britton Burdette along with Director Jim Freeman. Senior Managing
Director Melissa Rose, Senior Director Bobby Norwood and Director
Hunter Goldberg spearheaded the JLL Debt Advisory team.
"Given the increasing development and repurposing
of industrial properties within Atlanta's perimeter in recent years, urban and
high-density suburban infill markets are facing a massive shortage of small bay
industrial and flex supply,"
Britton Burdette
As a result, we’re seeing a surge in tenant demand for space close to densely populated areas with interstate connectivity," said Wirth.
"120
Interstate NW presented a unique opportunity to acquire an exceptional asset in
the Atlanta metro, offering functionality along with immediate access to
amenities, interstate access and affluent residential neighborhoods."
 |
| Jim Freeman |
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.
 |
| Bobby Norwood |
About Albany Road Real Estate Partners
The Albany Road team collectively brings more than 200
years of real estate, investment banking, and venture capital experience to its
established platform.
The diverse, yet complementary, skill sets of the group
provide the firm with a unique perspective and discipline that is utilized in
evaluating a wide range of real estate opportunities.
Since its launch in 2012, Albany Road has acquired 80
properties across 13 states, totalling 16.5 million square feet, with a gross
asset value of over $2 billion.
 |
| Hunter Goldberg |
Albany Road has offices in Boston, Nashville, Dallas,
Denver, and San Francisco.
About Adler Real
Estate Partners
Adler Real Estate Partners is a leading, vertically
integrated light industrial owner based in Miami, Florida.
The Company is highly focused on a specific market
sector, enabling it to generate favorable risk adjusted returns.
Formed in 2012 as an independent company, the firm
carries in its DNA a successful 50-year track record of acquiring and operating
multi-tenant commercial real estate assets of Matthew Adler’s legacy
family business, the Adler Group.
 |
| Matthew Adler |
By vertically integrating its operations, the firm leverages its property and asset management expertise to add value across the entire spectrum of its investments.
Contact:
Grace Lewis
PR,
Capital Markets
JLL
2401
Cedar Springs Rd.
Dallas,
Texas 75201
M
+1 903 520 3478
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