Sperry Equities Sells Atlanta-Area Industrial Park
- Oct 02, 2020
Sperry Equities has sold Plaza 85 Business Park, a nine-building asset in Norcross, Ga., to WePartner. The 191,528-square-foot property, which includes industrial, office and flex space, traded for nearly $11.7 million. JLL Capital Markets worked on behalf of the seller.
Located at 5970-6040 Unity Drive on 13.8 acres, the park came online in two phases, in 1980 and 1987. The buildings range between 11,428 and 37,335 rentable square feet, including a total of 27,781 square feet of office space, Yardi Matrix data shows. According to JLL, the park is home to 31 tenants, with the last-mile location providing access to more than 3.8 million people within a 30-minute drive via Interstate 85. Central Atlanta is located less than 20 miles to the southwest.
The nine buildings have clear heights ranging between 12 and 18 feet, dock-high and drive-in doors, as well as a combination of front-loading and rear-loading configurations.
The JLL Capital Markets Atlanta team working on behalf of the seller included Senior Managing Director Dennis Mitchell, Managing Directors Matt Wirth and Britton Burdette, as well as Associate Crosby Taylor.
The Atlanta market has been active this past quarter, with several high-profile moves making headlines. In late August, a Westmount joint venture sold a 1.2 million-square-foot business park in Norcross, less than 5 miles from WePartner’s new acquisition. In mid-September, Seefried completed a $237 million facility for Amazon in Stone Mountain. Meanwhile, KKR acquired a last-mile asset near Hartsfield-Jackson International Airport and Scannell landed a 760,608-square-foot tenant in Locust Grove.