The 216,416 SF, five-building warehouse portfolio in Atlanta, Georgia was 87 percent leased at acquisition in Q3 of 2019. The buildings are in a business park setting and have front park/rear load configurations. The assets had been under-managed in the marketplace. The business plan calls for reducing the percentage of office space in vacant and soon-to-be-vacant office suites, replacing nontraditional office warehouse tenants, upgrading the curb appeal and making needed capital improvements. This will enable not only improved occupancy but increased NOI. The value-add proposition is to reposition the suites to lower office finish and increase the NOI through lease-up and increasing rents to market rates as current leases roll.

Location
Peachtree Nortech
Atlanta, GA
Industrial | Unrealized
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