Hillwood Expands Metro Atlanta Presence
The company purchased a 100,000-square-foot warehouse in Norcross for $6 million, marking the its second acquisition in the Atlanta market this year.
1030 Norcross Industrial Court. Image courtesy of Yardi Matrix
Hillwood has acquired 1030 Norcross Industrial Court, a 100,000-square-foot last-mile distribution warehouse in Norcross, Ga. According to Gwinnett County public records, the asset traded for $6.2 million. The property last changed hands in 2005, when Underpriced Furniture purchased it for $3 million, Yardi Matrix data shows.
Located in the vicinity of interstates 85 and 285, 1030 Norcross Industrial Court is 21 miles from downtown Atlanta and 30 miles from Hartsfield-Jackson Atlanta International Airport. Built in 1977 on a 5.1-acre parcel, the distribution facility provides front-load design, 24-foot clear height, 115-foot truck courts, 28 dock-high doors and 58 parking spaces. The property is fully occupied by a furniture distributor on a short-term lease.
The acquisition marks Hillwood’s second buy in the Atlanta market this year. In March, the industrial owner and developer purchased a Class A bulk distribution facility totaling more than 1 million square feet in Pendergrass, Ga. The property is located roughly 40 miles northeast of 1030 Norcross.
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