{"id":1004165796,"date":"2017-02-02T05:12:13","date_gmt":"2017-02-02T13:12:13","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004165796"},"modified":"2020-04-29T08:28:13","modified_gmt":"2020-04-29T16:28:13","slug":"atlanta-area-800-ksf-industrial-asset-sells-for-40m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/atlanta-area-800-ksf-industrial-asset-sells-for-40m\/","title":{"rendered":"Atlanta-Area 800 KSF Industrial Asset Sells for $40M"},"content":{"rendered":"<p><em>By Mihaela Coste<\/em><\/p>\n<div id=\"attachment_1004165803\" style=\"width: 384px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/02\/201-Greenwood-Court-McDonough-Ga..jpg\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004165803\" data-attachment-id=\"1004165803\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/atlanta-area-800-ksf-industrial-asset-sells-for-40m\/201-greenwood-court-mcdonough-ga\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/02\/201-Greenwood-Court-McDonough-Ga..jpg\" data-orig-size=\"640,512\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"201 Greenwood Court, McDonough, Ga.\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;201 Greenwood Court, McDonough, Ga.&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/02\/201-Greenwood-Court-McDonough-Ga..jpg?w=640\" class=\"wp-image-1004165803\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/02\/201-Greenwood-Court-McDonough-Ga..jpg\" alt=\"201 Greenwood Court, McDonough, Ga.\" width=\"374\" height=\"299\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/02\/201-Greenwood-Court-McDonough-Ga..jpg 640w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/02\/201-Greenwood-Court-McDonough-Ga..jpg?resize=300,240 300w\" sizes=\"auto, (max-width: 374px) 100vw, 374px\" \/><\/a><p id=\"caption-attachment-1004165803\" class=\"wp-caption-text\">201 Greenwood Court, McDonough, Ga.<\/p><\/div>\n<p><strong>Atlanta<\/strong>\u2014Pure Industrial Real Estate Trust, a company that operates industrial properties in leading markets across Canada and the US, has recently acquired a Class A, 800,000-square-foot distribution center in McDonough, Ga., a suburb of Atlanta.<\/p>\n<p>201 Greenwood Court traded for approximately $39.5 million, the amount representing a 5.3 percent going-in capitalization rate. The asset was acquired using existing cash and the Trust\u2019s operating line. In February 2017, a new loan of roughly $19.2 million, having an eight-year term and a fixed interest rate of 3.8 percent per year, is expected to be put in place.<\/p>\n<p>Located at 201 Greenwood Court on a 37.8-acre site, the building completed in 1999 features 30-foot clear height, 40-foot by 40-foot column spacing, 188 dock-high doors and two grade-level doors, cross docking, ESFR sprinkler system, 8,000 amps of power and has a designated office space of 12,699 square feet. The facility is located in close proximity to Interstate 75, 33 miles from downtown Atlanta and 25 miles from UPS and FedEx hubs.<\/p>\n<p>At the time of the transaction, the property was fully occupied\u00a0by DHL Supply, which serves Bayer Healthcare out of the property. DHL has 5.6 years remaining on the lease.<\/p>\n<p>According to <a href=\"https:\/\/www.yardimatrix.com\/\" target=\"_blank\" rel=\"nofollow\">Yardi Matrix<\/a> data, the property last traded in 2005, when TIAA bought the warehouse\u00a0for $30.4 million from First Industrial Realty Trust.<\/p>\n<p><em>Image courtesy of Yardi Matrix<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>201 Greenwood Court was acquired by a Canadian company using existing cash, but a new mortgage is expected to be put in place in February 2017.<\/p>\n","protected":false},"author":1192,"featured_media":1004165803,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1489,21743,21825,21748,21783,21742],"tags":[33806],"class_list":["post-1004165796","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-atlanta","category-deals","category-finance","category-industrial","category-investment","category-latest","tag-pure-industrial-real-estate-trust"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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