By Roxana Baiceanu
Marcus & Millichap has brokered the sale of two FedEx Freight centers located in Atlanta and Marcus Hook, Pa. Both transactions amounted to $47.8 million. The Atlanta property, which encompasses 292,000 square feet, sold for $32.3 million, while the 150,000-square-foot Marcus Hook facility traded for $15.4 million.
“It is rare to see two industrial assets of this quality hit the market simultaneously,” said Todd Harrell, senior associate with Marcus & Millichap’s National Office and Industrial Properties Group. “Offered by their original developer, the properties had not been on the market prior to this sale. Both have strategic FedEx Freight locations, and the Atlanta site is particularly desirable as it is irreplaceable real estate located in the center of a burgeoning industrial market.”
The FedEx Atlanta facility is located at 4400 International Parkway on a 50-acre site close to Hartsfield-Jackson Atlanta International Airport. The Marcus Hook property spans 25 acres at 1500 Blueball Ave., eight miles west of Philadelphia International Airport. Both assets were completed in 1997.
Image courtesy of Marcus & Millichap