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Foxfield Picks Up Duluth Warehouse for $19M
Foxfield has acquired a 169,252-square-foot industrial building in Duluth, Ga. Called 3059 Premiere Parkway, the warehouse is leased to a technology company, which will occupy the space under a new six-year, triple-net lease,
Commercial Edge reports the property changed hands for $19 million from seller Barco. The new ownership also secured a $8.6 million acquisition loan from Aegon Insurance Co., with a maturity date set for 2031.
The deal was a sale-leaseback agreement, with Barco continuing to fully occupy the space under a six-year, triple-net lease. The industrial facility came online in 1998.
This deal marked Foxfield’s 14th acquisition made through its Foxfield Open-End Fund, that opened in 2020 and has been targeting fully leased Class A and B industrial and flex/R&D assets.
Dennis Mitchell, Matt Wirth and Britton Burdette, together with Jim Freeman with JLL’s Investment Sales and Advisory team negotiated on behalf of the seller. Hailey Realty Co.’s Howard Boyd and John Crawford also provided assistance.
