Ackerman & Co. Sells $1.8M Property in Stone Mountain Industrial Park
- Mar 29, 2017
Atlanta—Ackerman & Co. announced the $1.8 million off-market sale of a 24,833-square-foot, single-tenant industrial facility within the company’s Stone Mountain Industrial Park in Tucker.
The property, acquired by a local real estate investor, has a remaining five-year lease term and is currently occupied by Eckhart, a top electrical contractor. SVP Brett Bucker and Associate Major Martin represented Ackerman & Co. in the transaction. The company acquired the 4.1 million-square-foot industrial park at the end of 2016 for $135 million and managed to increase its occupancy from 84 to 91 percent as of March 2017.
“This is a well occupied, cash flowing asset with tremendous upside potential,” said Brett Buckner in a prepared statement. “Our buyer was excited about the opportunity to purchase a property with future redevelopment potential in a proven submarket.”
Ackerman & Co., a commercial real estate firm focused on investment, brokerage, management and development services in the Southeast, is also marketing additional buildings at Stone Mountain Industrial Park.
Photo courtesy of Ackerman & Co.