Berkeley Partners has sold a 141,481-square-foot, three-building industrial portfolio for $18.2 million in Norcross, Ga., within Atlanta’s submarket of Northlake Chamblee. JLL worked on behalf of the seller and procured the buyer, Unilev Capital. The portfolio is currently 86 percent occupied by 13 tenants.
Built between 1973 and 1978, the light industrial properties are at 6420-6476 Warren Drive and include 18-foot clear heights, a total 23 dock high doors, dock levelers, bumpers and loading doors, according to CommercialEdge. The tenant roster includes Zipp Auto Sales, Galiche Art Rugs and US-1 Van Lines of Georgia, Inc., among others, the same source shows.
The three buildings are adjacent to each other and allow for easy access to interstates 85 and 285, while also being 6 miles from Chamblee, Ga., 7 miles from DeKalb-Peachtree Airport, 17 miles from Atlanta and within 28 miles of Hartsfield-Jackson Atlanta International Airport.
The deal marks Unilev Capital’s expansion in the Southeast U.S., said the company’s Co-Founder & Principal, Raymond Levy, in prepared remarks. The buyer’s strategy is to continue to invest in multi-tenant, shallow-bay industrial assets, with plans to further expand its footprint in the Atlanta area, added the company’s Chief Financial Officer, Ian Konowitch.
The JLL Capital Markets that brokered the deal consists of Senior Managing Directors Matt Wirth, Dennis Mitchell and Britton Burdette, together with Directors Jim Freeman and Mitchell Townsend.
Atlanta’s ranks among top 10 for sales
Nationally, industrial investments totaled $52.1 billion in 2023, a figure that represented almost half of the volume recorded in 2022, a recent CommercialEdge report shows. Year-to-date through December, industrial deals in Atlanta amounted to $1.32 billion, placing the metro in the top 10 markets for sales volume. Across Southern metros, Dallas led with $3.4 billion, followed by Houston with $2.3 billion.
Significant deals closed in the metro last year include properties that were part of Investcorp’s $216 million acquisition. The company expanded its U.S. industrial footprint with a 1.6 million-square-foot purchase, with assets located in Atlanta, Boston, Central New Jersey, Allentown, Pa. and San Antonio, Texas.
