High Street Pays $72M for 1M SF of Industrial

(To read more on the industrial market, click here.)

NORCROSS, GA-Shooting to acquire up to $400 million in institutional quality industrial, office and multifamily properties, Boston-based High Street Equity Advisors has purchased two suburban Atlanta properties for a total $71.7 million. The light distribution/flex business parks total 960,791 sf. Chicago-based First Industrial Realty Trust Inc. was the seller.

The newest acquisitions for the firm’s High Street Real Estate Fund II are the 654,470-sf, 91%-leased Northwoods Business Park in Norcross purchased for $46.7 million or $71.36 per sf, and the 306,321-sf, 94%-leased Franklin Forest Business Park in Marietta bought for $25 million or $81.61 per sf.