Link Logistics Sells 2.9 MSF Industrial Portfolio

Cushman & Wakefield arranged the sale of a collection of suburban Atlanta distribution facilities.

150 Greenwood Pkwy. Image courtesy of Cushman & Wakefield

150 Greenwood Parkway. Image courtesy of Cushman & Wakefield

A joint venture between AEW Capital Management and Growth Capital Partners has completed the purchase of the South Atlanta Core-Plus Bulk Portfolio, a four-building collection of Class A distribution facilities totaling nearly 2.9 million square feet.

Two Cushman & Wakefield brokerage teams represented the buyers as well as the seller, listed by CommercialEdge as Link Logistics.

The suburban Atlanta assets acquired by the joint venture include:

  • A two-building, 1.5 million-square-foot complex at 195 King Mill Road in the McDonough submarket
  • An 867,140-square-foot facility at 150 Greenwood Industrial Parkway in the McDonough submarket
  • A 499,960-square-foot building at 9250 Main St. in the Jonesboro submarket

The assets in the portfolio were built in 2008, 2005 and 1994, respectively, and were were acquired by Link Logistics in 2019 and 2017, according to CommercialEdge information. Link had purchased the assets at King Mill Road for $90.8 million and the building at 9250 Main St. for $19.8 million, according to the same source.

195 King Mill Rd. Image courtesy of Cushman & Wakefield

195 King Mill Road. Image courtesy of Cushman & Wakefield

Both buildings at 195 King Mill Road host 32-foot clear heights and 195-foot truck courts, in addition to rail capable loading doors. The development is LEED certified, and tenants include Whirlpool and J.B. Hunt Transport Services.

The facility at 150 Greenwood hosts 125-foot to 180-foot truck courts, as well as mechanical loading doors and dock levelers. The property’s primary tenant is GFA, leasing 612,070 square feet. The complex at 9250 Main St. is leased to FritoLay and The Shippers Group, and includes 125-foot truck courts, in addition to 26-foot clear heights, as shown on CommercialEdge.

All the assets in the portfolio are located within 30 miles of Atlanta, and their locations adjacent to the Interstate 75, along a corridor of industrial development, allow for quick shipping and distribution to and from other cities in the Southeast.

9250 South Main St. Image courtesy of Cushman & Wakefield

9250 South Main St. Image courtesy of Cushman & Wakefield

The Cushman & Wakefield team acting on behalf of Link Logistics was led by Vice Chairman Stewart Calhoun, Senior Director Casey Masters and Director Ryan Bellows. Vice Chairman Robert Rubano and Executive Managing Director Brian Share secured acquisition financing on behalf of the buyer.

Atlanta’s industrial ascension

Despite sector-wide construction and supply headwinds, Atlanta continues to see significant demand for industrial space, with vacancy nearing a record low and asking rents at a historic high, according to a third quarter 2022 report from JLL. The city has 45 million square feet in its pipeline, with 17 million square feet being absorbed year-to-date.

Two recent industrial headlines in the city include Lincoln Property Co.’s planning of 800,000 square feet in industrial developments, in addition to Seefried Properties and Clarion Partners’ joint development of a two-phase distribution center totaling 1.4 million square feet.

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