Suburban Atlanta Industrial Buildings Change Hands for $18M
- Mar 20, 2020
A partnership between Weaver Capital Partners and The Seng Co. has sold Piedmont Warehouses, a 120,800-square-foot light industrial property in Atlanta. According to Yardi Matrix data, Link Industrial Property purchased the warehouse for $17.6 million after almost three years of ownership. In 2017, the partnership acquired the two-building asset from Westplan Investors for $11.6 million.
Located on 5.6 acres at 2091-2241 Faulkner Road, the shallow-bay, light industrial property is between the Buckhead and Midtown central business districts. Piedmont Warehouses provides easy access to interstates 85 and 75. The densely populated Atlanta area, with more than two million residents, is within a 30-minute drive of the property. Built in 1967 and renovated in 2018, the buildings feature 34 dock-high doors, 16-foot clear heights and numerous suites with air-conditioned warehouse space.
A JLL Capital Markets team from the company’s industrial and office investment advisory groups represented the sellers in the deal. JLL has been busy in Buckhead during the past six months. At the end of October, the brokerage company advised Cousins Properties in the sale of two Atlanta high rises—Terminus 100 and 200—for $503 million.