Ackerman & Co. Acquires 4-Building Industrial Portfolio in GA
- Sep 04, 2018
Ackerman & Co. has acquired a four-building industrial portfolio in Norcross, Ga., for $9.8 million.
The portfolio comprises 166,481 square feet of industrial space located at 6332, 6424, 6452 and 6454 Warren Drive, in the Northeast industrial submarket. The facilities were 92 percent leased at the time of sale to 12 tenants including CompuPoint USA, Transit U.S.A., South Pak and Clopay Building Products Co. The buildings recently underwent capital improvements by the previous owner, which included new roofing and canopies, repaved parking lots, T-5 lighting and updated landscaping.
Colliers International represented the seller in the deal. Ackerman & Co.’s Senior Vice President Frank Farrell will lead the leasing efforts for the assets.
“This was a great opportunity to purchase strategically located, shallow-bay industrial buildings in Atlanta’s premier industrial submarket at below replacement cost,” said Kris Miller, president of Ackerman & Co., in a prepared statement. “Well-occupied, infill opportunities like this are increasingly rare in the Atlanta market, and there was heavy competition for these assets among regional and national buyers, including institutional investors.”
In March, Ackerman & Co. announced plans to develop Rockdale Technology Center in Conyers, Ga. The project will be a three-building, Class A industrial complex, scheduled for completion by early 2019.
Image courtesy of Ackerman & Co.