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.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
