December 14, 2020
JLL has arranged the $38.5 million sale of a four-building light industrial business park totaling 281,677 square feet in Atlanta’s Cumberland Galleria submarket.
Situated on nearly 23 acres at 120 Interstate Northwest, the portfolio is located at the interchange of interstate 75 and 285. The property is currently 87 percent leased to 36 tenants and consists of 43 suites with an average size of 6,545 square feet. Since 2016, the park has undergone a multi-million-dollar renovation and features 14- to 18-foot clear heights, new roofs, 34 dock-high doors, 39 grade-level roll ups and ample parking.
Dennis Mitchell, Matt Wirth, Britton Burdette and Crosby Taylor of JLL represented the seller, a joint venture between The Ardent Cos., Taconic Capital Advisors and Axonic Capital. Albany Road Real Estate Partners purchased the asset through Albany Road Fund III, a closed-end vehicle with $225 million committed to date.
For comments, questions or concerns, please contact David Cohen