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Industrial Investors Think Small Lately

ATLANTA-The $6-million sale of Gateway Distribution Center is part of a new trend.

By Carl Cronan | Updated on February 06, 2009

ATLANTA-Smaller transactions appear to be the norm in the local industrial market these days. Brokers say investors are better able to raise equity and arrange financing at seven-digit levels than for more massive deals.

One recent example is the $6-million sale of Gateway Distribution Center, at 6047 and 6049 Fulton Industrial Blvd. A private investment group managed by Atlanta-based Ackerman & Co. acquired the two-building, 410,000-square-foot property for $6 million from a fund managed by New York-based ING Clarion.

Brian Budnick, an associate at CB Richard Ellis in Atlanta who represented the seller, says Ackerman was able to raise equity, procure debt financing and complete due diligence within a six-week time frame. CBRE executive vice presidents Frank Fallon and Chris Riley also were involved in the deal.

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