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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 | 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