By IvyLee Rosario
Ackerman & Co. purchased Lavista Business Park in the Tucker/Stone Mountain industrial submarket of Atlanta from Onward Investors for $12.7 million.
Located at 2000-2062 Weems Road, the four-building campus encompasses 217,089 square feet of space. The 12-acre Lavista is currently 87 percent leased to a variety of tenants, including Veterans Administration, WaveGuide Studios, Pure Red Marketing and Sonnen, a German energy firm that established its 26,000-square-foot headquarters at the location.
Tom Shafer and John Hinson of CBRE represented the seller in the transaction. Frank Farrell, senior vice president of leasing at Ackerman, will handle leasing at the business park.
Another recent deal for the company includes Stone Mountain Industrial Park, in which Ackerman & Co. recently sold one of the 69 buildings located within the complex.
Lavista Business Park is situated within close proximity to interstates 285, 85, 20 and U.S. Highway 78, Buford Highway and Peachtree Industrial Boulevard. There are also shops, restaurants and hotels located nearby.
“Lavista Business Park provides tenants high-quality, shallow-bay distribution space in an extremely convenient location,” said Kris Miller, president of Ackerman & Co., in prepared remarks. “With Atlanta’s ongoing population growth and increasing traffic congestion, we’ve learned the value of close-in locations that offer quick access to Atlanta’s major submarkets and the opportunity for last-mile distribution to consumers.”
Image courtesy of Ackerman & Co.