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"Demand is strong for single-tenant industrial buildings under 150,000 square feet, and there's very limited land available for new construction of this product." Brett Buckner, Ackerman & Co.
ATLANTA, GA, October 27, 2018 /24-7PressRelease/ -- Ackerman & Co. announced today that it has completed the sale of 2232 Mountain Industrial Boulevard, a 105,800-square-foot industrial building in the company's Stone Mountain Industrial Park, to Mequity Companies for $5.35 million.
Ackerman & Co. brokers Brett Buckner, Jimmy Stevens and Major Martin represented Ackerman in the sale of the facility, located in the Tucker/Stone Mountain submarket of Atlanta, northeast of the city.
Mequity, an Atlanta-based real estate development and investment firm, is redeveloping the warehouse as a build-to-suit project for CubeSmart, which will establish a state-of-the-art, climate-controlled self-storage facility, scheduled for completion by year-end.
"This property offers a high visibility location at the intersection of Mountain Industrial Boulevard and Hugh Howell Road and proximity to the area's residential communities, making 2232 Mountain Industrial Boulevard an excellent location for CubeSmart," said Brett Buckner.
In another recent transaction, Ackerman & Co. sold 4781 Lewis Road, a 37,300-square-foot warehouse facility, to Zeugma Import for $1.53 million. The company will use the facility for storage and distribution of its line of home furnishing products.
Located just outside the I-285 Interstate perimeter of Atlanta, Stone Mountain Industrial Park offers a mix of front, rear and side-load warehouse facilities.
"Demand is strong among distribution companies and other users for single-tenant industrial buildings under 150,000 square feet, and there's very limited land available for new construction of this product close to the I-285 perimeter," said Buckner.
Ackerman & Co. acquired the 4.1-million-square foot Stone Mountain industrial portfolio in November 2015. The park's strategic location provides distributors convenient access to local and regional markets.
About Ackerman & Co.
Headquartered in Atlanta, Ackerman & Co. is a privately held, full-service commercial real estate firm focused on providing quality investment, brokerage, management and development services in the Southeast. The company, founded in 1967, retains an expert team of more than 100 real estate professionals. To date, Ackerman & Co. has developed and acquired 37 million square feet of office, medical, industrial, retail and mixed-use space, has 8 million square feet under management, and maintains an investment portfolio valued at $1 billion. For more information, visit www.ackermanco.com
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