Stockbridge Sells Atlanta Asset for $40M
This property traded twice in less than three years.
Completed in 1996, the Georgia facility previously traded just two years ago. Image courtesy of JLL Capital Markets
Stockbridge Capital Group has sold BlueLinx Atlanta IOS, a 585,637-square-foot low-coverage/IOS distribution facility in Lawrenceville, Ga., for $40 million. JLL Capital Markets brokered the transaction, working on behalf of the seller and procuring the buyer, institutional investors advised by J.P. Morgan Global Alternatives.
Stockbridge had purchased the facility in 2021 from Brennan Investment Group for $31.8 million, according to CommercialEdge data. Prudential Financial provided a $19 million acquisition loan at the time, the same source shows.
Completed in 1996, the BlueLinx property is 64.7 acres and encompasses around 55 usable acres and approximately 4.5 additional ones, which can be used for potential future expansion. The single-story building on the site features 28-foot clear heights, insulated ceilings, active CSX rail spur, eight dock-high doors, 42 grade-level drive-in bays, climate control, a fully paved yard, ample storage sheds and approximately 200 parking spaces.
BlueLinx is located at 200 Hosea Road in Gwinnett County, roughly 34 miles from downtown Atlanta. The facility is near Route 29, providing access to Interstate 85.
Senior Managing Directors Dennis Mitchell, Matt Wirth and Britton Burdette, and Directors Mitchell Townsend and Jim Freeman led the JLL Capital Markets Investment Sales and Advisory team which arranged the deal.
Stockbridge also recently paid $87 million for a Class A industrial property in North Las Vegas, Nev., totaling 442,780 square feet. JLL and Cushman & Wakefield brokered the transaction.
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