Sagard Picks Up 400K-SF Fulton County Warehouse Facility

Sagard Real Estate acquired 5070 Phillip Lee Drive SW, a 400,800-square-foot industrial property in Atlanta’s Fulton Industrial submarket. SkyREM was the seller. 

The investment was made on behalf of Sagard Real Estate’s open-end core-plus real estate fund (the “Fund”). The property comprises four contiguous warehouse buildings across 15.5 acres along the Fulton Industrial Boulevard corridor. Located approximately two miles from Interstate 20 and four miles from Interstate 285, the site also provides access to downtown Atlanta and Hartsfield-Jackson Atlanta International Airport.

The property is fully leased to Kittrich, who manufactures and distributes rug underlays, non-slip products, bath mats, and related home goods. The tenant has occupied the property for more than 20 years. Existing demising walls and office configurations provide flexibility to accommodate multiple users over time.

At the time of acquisition, no competitive warehouse product was under construction in the submarket, with the existing development pipeline designated for data center use.