JLL has arranged the $9.3 million sale of 316 Business Center, a four-building light industrial park totaling 98,306 square feet in the Atlanta-area community of Lawrenceville.

The property was constructed between 1988 and 1996 and features auto parking for higher office finish tenants. The buildings were recently renovated and are currently 78% leased to 22 tenants. Located at 1000 Hurricane Shoals Rd., 316 Business Center is in the 1,500-acre Gwinnett Progress Center, which serves as the logistical keystone between Atlanta and Athens.

Dennis Mitchell, Matt Wirth, Britton Burdette and Crosby Taylor of JLL represented the seller, Sperry Equities, in the transaction. The buyer was a partnership between Elmo Enterprises and Tall Pines Capital.

“High-quality, well-located and well-parked flexible industrial space suitable for the smaller tenant is in very strong demand,” said Mitchell. “The high cost to replicate has limited construction in this cycle resulting in short supply, increasing rents, and increasing values.”