Peachtree Nortech is a five building, multi-tenant warehouse portfolio representing 216,426 SF. Located in Atlanta, Georgia, the average occupancy was 87 percent leased at acquisition in Q3 2019. The buildings are in a business park setting and have rear load configurations. The assets had been under-managed in the marketplace. Repositioning involved reducing the percentage of office space in vacant and soon-to-be-vacant office suites, replacing nontraditional office warehouse tenants, upgrading the curb appeal, making needed capital improvements, and increasing rents to market rents as leases expire.
Location
Peachtree Nortech
Atlanta, GA
Industrial | Realized
Asset Summary
- Acquisition Date:
- Q3 2019
- Size:
- 216,416 SQ FT
- Property Type:
- Industrial
- Deal Profile:
- Fund III, Acquisition
- Investment Profile:
- Value-Add
- Deal Source:
- Off Market