A subsidiary of Atlanta-based John W. Rooker & Associates was the seller. Steve Grable and Chris Tomasulo of Colliers Cauble represented AMB. Rooker's Dan Pattillo represented Rooker & Associates.
The Southside building is fully leased to ABX Inc., a subsidiary of Seattle-based Airborne Express. The building is near the intersection of Jonesboro Road and I-285.
"This acquisition represents AMB's ongoing commitment to freight-forwarding and distribution properties located near major airports," Grable says in a prepared statement. "The deal also counters some market trends from 2001 when a lack of local for-sale institutional-grade properties resulted in a sluggish market."
As of Sept. 30, AMB owned, managed and had renovation and development projects totaling 92.6 million sf in 996 buildings in 26 markets. AMB plans to release its fourth quarter and full-year 2001 earnings Jan. 22, after the close of market.
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