{"id":1004698862,"date":"2024-01-23T06:22:03","date_gmt":"2024-01-23T14:22:03","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004698862"},"modified":"2024-01-23T06:26:03","modified_gmt":"2024-01-23T14:26:03","slug":"apg-buys-100-ksf-industrial-building-in-atlanta","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/apg-buys-100-ksf-industrial-building-in-atlanta\/","title":{"rendered":"APG Buys 100 KSF Industrial Building in Atlanta"},"content":{"rendered":"\n<p><strong>Atlanta Property Group<\/strong> has acquired 2395 Pleasantdale, a 100,000-square-foot industrial building in Norcross, Ga. <strong>NAI Brannen Goddard<\/strong> sold the property, according to CommercialEdge data.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;6a2db3842d98d&quot;}\" data-wp-interactive=\"core\/image\" class=\"alignright size-medium is-resized wp-lightbox-container\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004698866\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/apg-buys-100-ksf-industrial-building-in-atlanta\/apg-2395-pleasantdale\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/APG-2395-Pleasantdale-e1705931876870.png\" data-orig-size=\"3991,2997\" 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=\"APG 2395 Pleasantdale\" data-image-description=\"&lt;p&gt;The 2395 Pleasantdale distribution building spreads on a 5.9-acre site. Image courtesy of Atlanta Property Group&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;The 2395 Pleasantdale distribution building spreads on a 5.9-acre site. Image courtesy of Atlanta Property Group&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/APG-2395-Pleasantdale-e1705931876870.png?w=1024\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on-async--click=\"actions.showLightbox\" data-wp-on-async--load=\"callbacks.setButtonStyles\" data-wp-on-async-window--resize=\"callbacks.setButtonStyles\" height=\"225\" width=\"300\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/01\/APG-2395-Pleasantdale-e1705931876870.png?w=300\" alt=\"The 2395 Pleasantdale distribution building.\" class=\"wp-image-1004698866\" style=\"width:305px;height:auto\"\/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on-async--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><figcaption class=\"wp-element-caption\">The 2395 Pleasantdale distribution building is on a 6-acre lot. <em>Image courtesy of Atlanta Property Group<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>The seller purchased the asset back in 2008 for $5.5 million, the same source shows. Completed in 1987, the property features suites ranging from 5,000 to 12,000 square feet, 13 dock-high doors, 21-foot clear heights and approximately 168 parking spaces.<\/p>\n\n\n\n<p>At the time of the sale, a total of nine tenants occupied 94 percent of 2395 Pleasantdale. The roster includes Delta Floors, Digiprint Ink, Duct-Max Supply, The Atlanta Office Furniture Store and Kornfield.<\/p>\n\n\n\n<p>The property is in central Norcross, near Interstate 85, Route 23 and Interstate 285, which provide easy access across the Atlanta metropolitan area. Smith Haverty, partner at APG, said in prepared remarks that the market continues to experience tremendous growth.<\/p>\n\n\n\n<p>APG\u2019s industrial portfolio continues to grow, remaining an active participant within <a href=\"https:\/\/www.commercialsearch.com\/news\/whats-next-for-industrial-real-estate\/\" target=\"_blank\" rel=\"noreferrer noopener\">the industrial market<\/a>. The company has deployed more than $135 million of capital since 2022, while also planning to invest $100 million of committed equity into existing distribution properties across different locations by the end of 2024.<\/p>\n\n\n\n<p>In line with nationwide trends, the high cost of capital has led to Atlanta\u2019s investment volume falling 56 percent year-to-date through November when compared to 2022, according to a recent <a href=\"https:\/\/www.commercialedge.com\/blog\/national-industrial-report\/\" target=\"_blank\" rel=\"noreferrer noopener\">CommercialEdge report<\/a>. A few notable sales closed within the metro last year, including properties that were part of <a href=\"https:\/\/www.commercialsearch.com\/news\/blackstone-sells-3-1b-industrial-portfolio\/\">the $3.1 billion transaction<\/a> between Blackstone and Prologis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>NAI Brannen Goddard sold the distribution facility.<\/p>\n","protected":false},"author":3014,"featured_media":1004698866,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1489,21748,21783,21742,32781],"tags":[35595,34585],"class_list":["post-1004698862","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-atlanta","category-industrial","category-investment","category-latest","category-southeast","tag-atlanta-property-group","tag-nai-brannen-goddard"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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