Peachtree City Industrial Facility Trades for $19M

Boston-based Plymouth Industrial REIT has acquired a multi-tenant industrial building in the Atlanta suburb of Peachtree City for $19.4 million. The seller was undisclosed.

Located on Highway 74 in the Fayette/Coweta Industrial submarket south of the Atlanta International Airport, the 295,693-square-foot industrial building is fully-leased to 15 tenants, with a weighted average lease term of approximately five years. The tenant roster includes Metal Tech USA, a fabricator and distributor of architectural systems and high-end metals; Gerresheimer, a glass and products manufacturer to the pharmaceutical and healthcare industries, and M-OK Freight Corp., a freight services company.

“The strong fundamentals of this market and the ability to acquire a well-tenanted property at an attractive initial yield presented a very compelling off-market opportunity to grow our presence in Atlanta,” said Pendleton White, Jr., president and CIO at Plymouth Industrial REIT. “Peachtree City is an upscale community with limited industrial zoning, and for the last several years this submarket has experienced positive absorption, elevated leasing velocity and strong rent growth.”

Connect Industrial is coming up on November 19th in Houston. You can get more details and register to attend on this link.

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