The 259,641-square-foot Roswell Distribution Center is currently 55% leased.
ROSWELL, GA—Longpoint Realty Partners of Boston has acquired a nearly 230,000-square-foot Class A industrial property here in this Atlanta suburb for $19.75 million.
Commercial brokerage firm Newmark Knight Frank, which represented the seller—an unidentified institutional investor—reported the transaction for the 259,641-square-foot Roswell Distribution Center.
At the time of the sale, the complex located on Hembree Park Drive was 55% leased. Newmark Knight Frank executive managing director Matt Tritschler and managing director Peter Everett negotiated the deal for the seller.
Originally built in 2006 within the Hembree Park master-planned community, the Roswell Distribution Center comprises two buildings featuring 26 dock doors, two drive-in doors and clear ceiling heights up to 24 feet. The facility features access to Georgia 400 and numerous community amenities. Key tenants at the complex include Room & Board Inc., Central EMS and Ferguson Enterprises. Newmark officials say the lack of industrial space in the area makes Roswell Distribution Center an excellent candidate for long-term investment.
“Roswell Distribution Center provides an ideal value-add opportunity for the investor,” says NKF's Everett. “The potential for in-place cash flow combined with the strong upside in leasing the vacant space will generate healthy returns as the robust industrial market in North Fulton continues to grow and expand.”
The Metro Atlanta's industrial market currently has a vacancy rate of 7.0%. The region's vacancy rate has remained in single digits for almost four years. In the past five years, more than 70 million square feet of new industrial product has been built, representing more than 12% of total inventory in the market.
Earlier this month, Longpoint Realty acquired the Pembroke Pines Shopping Center from The Sterling Organization for $37.5 million.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
