Jones Lang LaSalle Incorporated : Fully leased distribution facility near Atlanta trades for $27.35M

ATLANTA, Jan. 5, 2022 -JLL Capital Markets announced today that it has closed the $27.35 million sale of a fully leased, 455,602-square-foot bulk distribution facility at 1001 Cherry Dr. in the Atlanta-area community of Braselton, Georgia.

JLL marketed the property on behalf of the seller, Foxfield Industrial.Growth Capital Partners (GCP) acquired the asset.

Completed in 1985 and expanded in 1996, the fully leased property is triple net leased to two tenants, YearOne, Inc. and TransSouth Logistics. The building features clear heights ranging from 22 to 28 feet, 45 dock-high doors, eight drive-in doors and 486 auto spaces. The 30.5-acre site provides excess land for potential building expansion and/or additional outdoor/trailer storage.

1001 Cherry Dr. is situated adjacent to Interstate 85 in Braselton, which is an eastern Atlanta suburb. This location is only .2 miles from exit 129 off of Interstate 85, the industrial backbone of the Southeast, and has easy access to the rest of Atlanta's essential transportation infrastructure, including Interstates 985, 285, 75 and 20, which allows the tenants to reach more than 2.9 million residents within a 60-minute drive. Additionally, the property is 56 miles from Hartsfield-Jackson Atlanta International Airport.

The facility is within the Northeast Atlanta Industrial submarket, one of the region's most sought-after industrial submarkets and the largest in the Atlanta metro. According to JLL Research's Atlanta Industrial Insightreport, the submarket had a low vacancy of 5.1 percent at the end of the third quarter of 2021. With more competition for space and vacancies moving extremely fast, rental rates and concessions for the Atlanta Industrial market as a whole continue to increase.

The JLL Capital Markets Investment Sales and Advisory team that represented the seller was led by Dennis Mitchell, Matt Wirth, Mitchell Townsend and Britton Burdette.

"This transaction represents the high demand for well-located industrial assets in the booming Northeast Atlanta submarket and, furthermore, demand for assets with expansion capabilities with the opportunity for additional value creation," Dennis Mitchell said.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients - whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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