{"id":1004269448,"date":"2018-10-04T09:04:56","date_gmt":"2018-10-04T17:04:56","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004269448"},"modified":"2022-12-08T11:53:49","modified_gmt":"2022-12-08T19:53:49","slug":"agellan-acquires-53m-distribution-center-in-atlanta","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/agellan-acquires-53m-distribution-center-in-atlanta\/","title":{"rendered":"Agellan Acquires $53M Distribution Center in Atlanta"},"content":{"rendered":"<p>By Holly Dutton<\/p>\n<div id=\"attachment_1004269451\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/10\/Newnan-e1538597256569.png\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" aria-describedby=\"caption-attachment-1004269451\" data-attachment-id=\"1004269451\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/agellan-acquires-53m-distribution-center-in-atlanta\/newnan\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/10\/Newnan-e1538597256569.png\" data-orig-size=\"667,459\" data-comments-opened=\"0\" 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=\"Newnan Distribution Center\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Newnan Distribution Center&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/10\/Newnan-e1538597256569.png?w=667\" loading=\"lazy\" class=\"wp-image-1004269451 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/10\/Newnan-e1538597256569.png\" alt=\"\" width=\"300\" height=\"206\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/10\/Newnan-e1538597256569.png 667w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/10\/Newnan-e1538597256569.png?resize=300,206 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004269451\" class=\"wp-caption-text\">Newnan Distribution Center<\/p><\/div>\n<p>Agellan Commercial Real Estate Investment Trust has acquired a distribution center in the Atlanta area for $53 million from LRC Properties and a private Canadian-based investor.<\/p>\n<p>Originally built in 1978 for Kmart, the 1.9 million-square-foot Newnan Distribution Center was renovated in 2001 and is now 87 percent leased to two tenants: Variety Wholesalers and Elite Comfort Solutions.<\/p>\n<p>An HFF investment advisory team of Senior Managing Director Chris Norvell, Director Patrick Nally and Senior Managing Director Richard Reid represented the seller in the deal.<\/p>\n<p>The facility is situated on about 102 acres at 60 Herring Road in Newnan, Ga., along the Interstate 85 south corridor. Newnan Distribution Center is about a 40-minute drive from downtown Atlanta and 30 miles southwest of Hartsfield-Jackson Atlanta International Airport.<\/p>\n<p>Among its features, the distribution center contains 24-foot clear heights, 1,000 trailer storage spaces, 118 dock-high loading positions and a new glass office entrance. Newnan Distribution Center also borders an active CSX rail line that provides direct access to the Fairburn Intermodal Terminal.<\/p>\n<p>Earlier this year, LRC Properties <a href=\"https:\/\/www.commercialsearch.com\/news\/inbev-keurig-offload-617-ksf-atlanta-facility\/\">acquired a 617,000-square-foot<\/a> cross-dock warehouse in Lithia Springs, Ga., from a&nbsp;joint venture between AB InBev and Keurig Green Mountain.<\/p>\n<p><em>Image courtesy of HFF<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The 2 million-square-foot industrial complex, built in 1978, is 87 percent leased to two tenants and was renovated in 2001.<\/p>\n","protected":false},"author":745,"featured_media":1004269451,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1489,21743,21748,21783,21742],"tags":[42299,32792,38364],"class_list":["post-1004269448","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-atlanta","category-deals","category-industrial","category-investment","category-latest","tag-agellan-commercial-real-estate-investment-trust","tag-hff","tag-lrc-properties"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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