Arden Acquires 659K-SF Atlanta Business Park Portfolio

Arden Logistics Parks acquired Atlanta Business Park Portfolio, a portfolio of light industrial assets comprised of 659,000 square feet in 5 business parks and 11 buildings concentrated in the Norcross submarket of northeast Atlanta, Georgia.

ALP’s business plan entails capital improvements including new pavement, enhanced painting and signage along with a naming rebrand to Colony Oaks Portfolio to better reflect the submarket. Additionally, ALP will have a full onsite team dedicated to leasing and managing a granular rent roll with an average suite size of approximately 8,200 square feet. 

The 5 business parks include Bay Colony Business Park, Oakbrook Place Business Park (shown), Medlock Oaks Business Park , Five Oaks Business Park, and Colony Center Business Park.  The parks are owned by different owners.

This acquisition augments ALP’s presence in the Atlanta MSA market which now spans more than 2.3 million square feet. The ALP deal team for this transaction was led by Charlie McCombs and Reza Javaheri.