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"This is our second big investment in South Atlanta. With the strong investment activity taking place in this part of Atlanta, we believe this property is suitable for a variety of uses," Evan Ziegler
ATLANTA, GA, January 07, 2022 /24-7PressRelease/ -- Continuing its strategic investment in South Atlanta, Ackerman & Co. has acquired 1200 White Street SW, a 212,500-square-foot industrial facility in the West End of Atlanta. Ackerman purchased the property, 100% leased to a single tenant, for $24 million.
Synovus provided acquisition financing. Tim Head and Michael Palazzone of Lee & Associates represented Ackerman in the acquisition, and Wendy McArthur of JLL represented the owner, a private investor.
1200 White Street is less than one mile from I-20 and conveniently accessible to the West End MARTA rail station, approximately one mile away. The property also offers 1,800 feet of frontage along the Westside Atlanta BeltLine and is adjacent to a Kroger supermarket.
The property is located down the street from Lee + White, a 435,000-square-foot adaptive reuse, mixed-use project that was Ackerman & Co.'s first major investment in South Atlanta, in partnership with MDH Partners.
"Given our experience with Lee + White, we're excited to make our second big investment in South Atlanta," said Evan Ziegler, Senior Vice President of Investments for Ackerman & Co. "We were able to buy great real estate in a great location, at what we believe is a great price. With the strong investment activity taking place in this part of Atlanta, we believe this property is suitable for a wide variety of uses."
The first phase of redevelopment at Lee + White brought popular breweries, a distillery, restaurants and retailers. Ongoing construction in the next phase, slated for completion in 2022, will introduce a food hall, loft offices, additional retail and expanded greenspace. These exceptional amenities are a short walk away from 1200 White Street.
Located on 12.5 acres, 1200 White Street features 20,000 square feet of second-floor loft offices and 20-foot clear heights.
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 4.5 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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