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$27M Buy Splits Last-Mile, Triple-Net-Leased Atlanta Industrial Portfolio
JLL has closed the $26.9-million sale of a four-property industrial portfolio totaling 278,558 square feet across Atlanta’s northern suburbs. The single-tenant buildings (constructed between 1986 and 1991) are 80% leased on a triple-net-lease basis.
JLL’s Matt Wirth, Huston Green, Dennis Mitchell, Britton Burdette, Jim Freeman and Maddie Davis represented the seller, Tamarack Investments. Faropoint acquired three assets, 4680 North Royal Atlanta Drive in Tucker, 5121 Buford Highway in Norcross and 2100 Boggs Road in Duluth, while Denali Investment Group purchased 1420 Redi Road in Cumming.
“The portfolio was defined by the building locations in very dense, suburban, infill locations, and the ownership group was flexible about selling as a portfolio or in multiple transactions,” said Freeman. “Ultimately, the process resulted in two buyers for two different segments of assets, one with stabilized buildings and significant mark-to-market potential, and another with near-term vacancy and a compelling lease-up opportunity to create value.”
Photo: 2100 Boggs Road, Duluth, GA
- ◦Sale/Acquisition
