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"The sale of this property is an example of the strong demand for single-tenant industrial buildings under 150,000 square feet in this strategically located submarket." Brett Buckner, Ackerman & Co.
ATLANTA, GA, January 09, 2019 /24-7PressRelease/ -- Ackerman & Co. announced today that it has completed the sale of 4649 Lewis Road, a 40,817-square-foot industrial building in the company's Stone Mountain Industrial Park. Tops Kitchen – a leading manufacturer and wholesaler of kitchen cabinets, countertops and other accessories – purchased the building for $2,082,585.
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, northeast of Atlanta.
Tops Kitchen will establish a new Atlanta-area distribution center in the building, which will also provide showroom and office space.
"The sale of this property is another example of the strong demand for single-tenant industrial buildings under 150,000 square feet in this strategically located submarket," said Brett Buckner. "Available land is scarce for new construction of this type of product close to the I-285 perimeter."
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.
Ackerman & Co. acquired the 4.1-million-square foot Stone Mountain industrial portfolio in November 2015. Since purchase, Ackerman & Co.'s industrial brokerage team has boosted occupancy across the portfolio from 84% to 95%.
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 more than 37 million square feet of office, medical, industrial, retail and mixed-use space, has nearly 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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