Hillwood Conquers The Big Peach With Westridge Acquisition
- Nov 06, 2015
By Balazs Szekely, Associate Editor
Hillwood Investment Properties closed on its acquisition of Westridge Logistics Center in McDonough, Ga. The company purchased the 320,000-square-foot Class A multi-tenant distribution park through its U.S. Industrial Fund II.
Westridge was developed in 2006 in the I-75 South/Henry County industrial submarket, situated within 1.5 miles of the I-75/GA Highway 155 interchange. The area holds the largest concentration of institutional-quality bulk industrial product in Atlanta, with over 25 million square feet of Class A product within a 3-mile radius of the interchange. The Westridge Logistics Center offers a rear loading multi-tenant configuration, 24-foot minimum clear height, 180- to 210-foot building depths, Early Suppression Fast Response (ESFR) fire suppression system, 120’-foot truck court depths, and efficient T5 fluorescent lighting. With a 10 percent average office finish, abundant parking and multiple storefronts, Westridge offers flexible leasing with suites from 15,000 to 100,000 square feet.
Senior Vice President Brian Budnick along with Vice Chairmen Chris Riley and Frank Fallon of CBRE in Atlanta represented the seller in this transaction, the identity of which remained undisclosed.
“Atlanta is the hub and economic engine of the Southeast, which is the fastest growing region in the country,” said Tom Fishman, executive vice president of acquisitions and dispositions at Hillwood Investment Properties. “Expanding our portfolio in Atlanta makes strategic sense and fits perfectly with our strategy to acquire and develop high-quality, functional industrial real estate in major US markets.”
Photo credit: Google Maps