Lew Friedland, managing director at Colony Capital and head of Colony Industrial, with 1645 Satellite Blvd, Duluth, GA (Photo composite)
ATLANTA, GA—Colony Industrial has acquired the Atlanta NE/I-85 Industrial Portfolio consisting of nine class A warehouse properties in Atlanta, GA, from Manulife Financial. Financial terms were not disclosed.
Colony Industrial is the light industrial platform of Colony Capital, a diversified global real estate investment firm with $43 billion of assets under management.
The properties are in Atlanta's prime Northeast industrial submarket, totaling 890,920 square feet in six buildings at 2150 Boggs Road Northwest (Buildings 100, 200, 300, 400, 500 and 600) in Duluth, GA; one building at 1645 Satellite Boulevard in Duluth, GA; and two buildings at 2925 and 3255 Shawnee Industrial Way in Suwanee, GA. Their location offers immediate access to Interstate 85, a major north-south corridor connecting Atlanta to Charlotte and the Mid-Atlantic. The buildings are 96%-leased to 23 high-quality tenants.
“This portfolio broadens our presence in a premier US transportation hub,” says Lew Friedland, managing director at Colony Capital and head of Colony Industrial. “We are selectively acquiring infill industrial buildings in high-demand markets to provide the critical last-mile link in the delivery cycle, and with this acquisition we now own 7.7 million square feet of light industrial logistics property in Atlanta.”
Matt Tritschler and Peter Everett of Newmark Knight Frank acted as real estate brokers on the transaction.
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.
Steve Lubetkin
Steve Lubetkin is the New Jersey and Philadelphia editor for GlobeSt.com. He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for GlobeSt.com has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at [email protected].
