{"id":1004386817,"date":"2020-01-31T02:08:30","date_gmt":"2020-01-31T10:08:30","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004386817"},"modified":"2020-01-31T02:08:30","modified_gmt":"2020-01-31T10:08:30","slug":"plymouth-industrial-acquires-924-ksf-portfolio","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/plymouth-industrial-acquires-924-ksf-portfolio\/","title":{"rendered":"Plymouth Industrial Acquires 924 KSF Portfolio"},"content":{"rendered":"<div id=\"attachment_1004378660\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/12\/Industrial-news.-Image-via-Pixabay.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004378660\" data-attachment-id=\"1004378660\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/logistics-real-estate-e-commerce-bolster-sustainability\/industrial-news-image-via-pixabay\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/12\/Industrial-news.-Image-via-Pixabay.jpg\" data-orig-size=\"800,620\" 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=\"Industrial news. Image via Pixabay\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Image via Pixabay&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/12\/Industrial-news.-Image-via-Pixabay.jpg?w=800\" class=\"wp-image-1004378660 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/12\/Industrial-news.-Image-via-Pixabay.jpg\" alt=\"\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/12\/Industrial-news.-Image-via-Pixabay.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/12\/Industrial-news.-Image-via-Pixabay.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/12\/Industrial-news.-Image-via-Pixabay.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004378660\" class=\"wp-caption-text\"><i>Image via Pixabay<\/i><\/p><\/div>\n<p>Plymouth Industrial REIT has purchased a five-building, 924,036-square-foot industrial portfolio in Atlanta and Savannah, Ga., for $34.7 million. The acquisition has a projected initial yield of 7.6 percent. JLL negotiated the deal on behalf of the seller, Hight Knox Properties, according to <em>Atlanta Business Chronicle<\/em>.<\/p>\n<p>The transaction marked Plymouth\u2019s entry in the Savannah market, where it acquired three properties. In Atlanta, the company purchased two buildings located in the Northwest and Interstate 20 East submarkets, as well as 39 acres of land for future development. The assets are fully occupied by four tenants with weighted average lease terms of approximately seven years.<\/p>\n<p>Expanding in Atlanta and entering the Savannah market have been Plymouth Industrial\u2019s key objectives, according to Pendleton White Jr., the firm&#8217;s president &amp; chief investment officer. Market conditions such as steady rent increases, established tenants and vacancy rates at an all-time low stood behind the company\u2019s acquisition.<\/p>\n<p>In recent months, Plymouth Industrial has also consolidated its presence in the Midwest. Last December, the REIT expanded its Indianapolis footprint with a <a href=\"https:\/\/www.commercialsearch.com\/news\/plymouth-industrial-boosts-indianapolis-footprint-in-62m-deal\/\">$62 million portfolio transaction<\/a> comprising 2.1 million square feet.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The transaction included two buildings in Atlanta and three properties in Savannah, Ga., occupied by four tenants.<\/p>\n","protected":false},"author":867,"featured_media":1004378660,"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":[32796,37033],"class_list":["post-1004386817","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-atlanta","category-deals","category-industrial","category-investment","category-latest","tag-jll","tag-plymouth-industrial-reit-inc"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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