Atlanta Industrial

Atlanta

Atlanta Industrial portfolio, totaling 409,000 sf, was acquired in January 2017 as a part of Citimark’s larger industrial acquisition strategy. The properties were acquired through an off market process at a significant discount to replacement cost and market comparable sales.

The portfolio included the assemblage of four medium warehouse buildings located in two of Atlanta’s primary industrial submarkets, Airport/South and I-85 Northeast. The properties are last mile, true infill locations surrounded by dense industrial product and with close proximity to the Atlanta population base, with true barriers to entry.

The value creation strategy included transitioning all leases to NNN structure, improving the quality of the product by investing in deferred maintenance and completion of higher quality tenant improvements, aggressive lease up of vacant space, ensuring high quality tenants were retained and a significant increase in property rents.

The property was sold to a real estate private equity company after accomplishing Citimark’s business plan, in an Atlanta portfolio sale in November of 2020.

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350 E. New York Street Suite 200
Indianapolis, IN 46204

2102 Cambridge Beltway Dr. Suite D
Charlotte, NC 28273

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