IDI refused to disclose the price. But area brokers tell GlobeSt.com on condition of anonymity the land probably went for about $80,000 per acre ($1.84 per sf) or $7.6 million.
The parcel is at Camp Creek Parkway and Douglas Hill Road where construction will begin after the final building in Westfork Distribution Center is 50% leased, according to IDI's prepared statement.
The conceptual plan for CampCreek calls for four buildings, ranging from 360,000 sf to 225,000 sf.
The four-million-sf Westfork center is in Atlanta's I-20 West submarket. IDI is developing a 380,000-sf bulk facility on the final parcel there. However, IDI has two seven-acre sits at Westfork that can support 140,000-sf distribution buildings.
According to GlobeSt.com research, the average asking rental rate for distribution space in the submarkets west of Atlanta is between $3.35 per sf and $4.45 per sf.
Bill Hare of William B. Hare Co., Atlanta, represented the seller in the transaction.
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