{"id":1004071851,"date":"2013-04-26T11:50:44","date_gmt":"2013-04-26T19:50:44","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=121703"},"modified":"2022-12-02T14:08:51","modified_gmt":"2022-12-02T22:08:51","slug":"meritex-transwestern-find-buyers-for-metro-atlanta-industrial-properties","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/meritex-transwestern-find-buyers-for-metro-atlanta-industrial-properties\/","title":{"rendered":"Meritex, Transwestern Find Buyers for Metro Atlanta Industrial Properties"},"content":{"rendered":"<p style=\"text-align: justify\"><em>By Georgiana Mihaila, Associate Editor<\/em><\/p>\n<p style=\"text-align: justify\"><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/04\/gI_118112_2120-2124-Barrett-Park-Drive.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignleft wp-image-121705\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/04\/gI_118112_2120-2124-Barrett-Park-Drive.jpg\" alt=\"\" width=\"287\" height=\"170\" \/><\/a>Meritex was the first to announce this week that it has found a buyer for two of its office\/industrial properties located in Kennesaw, Georgia.<\/p>\n<p style=\"text-align: justify\">The two buildings, 2120 and 2124 Barrett Park Drive, have been a part of Meritex\u2019s portfolio since December 2010, when the company acquired them in a ten-building, 750,000-square-foot portfolio deal. Totaling 151,665 square feet, the two buildings are currently 100 percent occupied by tenants Alorica, Inc. and Knapp Logistics Automation, Inc.<\/p>\n<p style=\"text-align: justify\">Daniel Williams, chief investment officer for Meritex commented, \u201cThis transaction was significant for Meritex because it once again demonstrates our ability to adeptly execute a value-add investment strategy and to realize the value created through successful disposition.\u201d<\/p>\n<p style=\"text-align: justify\">CBRE brokers, Tom Shafer and John Hinson, and Nathan Pramik of TPA Group, represented Meritex in the sale of the properties.<\/p>\n<p style=\"text-align: justify\">Transwestern\u2019s Atlanta office has also found a buyer for a 122,880-square-foot industrial warehouse on behalf of Stockbridge Capital Group\u2014which served as the adviser to the real estate pension fund that sold the property. Briggs Equipment, a leading provider of materials handling equipment, paid $5.9 million for the facility located in the Airport South industrial submarket.<\/p>\n<p style=\"text-align: justify\">The 4695 Aviation Parkway building is the largest warehouse facility located within International Airport Park, a master-planned industrial campus totaling nine buildings and 523,592 square feet. Built in 1987, the state-of-the-art facility features a 24-foot clear height, 31 dock-high doors, more than 215 parking spaces and above-market trailer storage areas. Briggs will occupy 100 percent of the firm&#8217;s new facility once the build-out is completed.<\/p>\n<p style=\"text-align: justify\">Stockbridge Capital Group will remain the adviser for the other eight International Airport Park buildings.<\/p>\n<h6 style=\"text-align: justify\">Image courtesy of Meritex<\/h6>\n<p style=\"text-align: justify\">\n","protected":false},"excerpt":{"rendered":"<p>Meritex was the first to announce this week that it has managed to find a buyer for two of its office\/industrial properties located in Kennesaw, Georgia.<\/p>\n","protected":false},"author":33,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1489,21742],"tags":[39387],"class_list":["post-1004071851","post","type-post","status-publish","format-standard","hentry","category-atlanta","category-latest","tag-atlanta"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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