Colony Industrial Acquires Nine Industrial Properties in Atlanta, Georgia
DALLAS--(BUSINESS WIRE)--Oct 5, 2018--Colony Industrial announced today it has acquired the Atlanta NE/I-85 Industrial Portfolio consisting of nine Class A warehouse properties in Atlanta, Georgia, in a transaction that closed on September 26, 2018. Colony Industrial is the light industrial platform of Colony Capital, Inc. (NYSE: CLNY), a diversified global real estate investment firm with $43 billion of assets under management.
The properties are located in Atlanta’s prime Northeast industrial submarket, totaling 890,920 square feet in six buildings at 2150 Boggs Road Northwest (Buildings 100, 200, 300, 400, 500 and 600) in Duluth, GA; one building at 1645 Satellite Boulevard in Duluth, GA; and two buildings at 2925 and 3255 Shawnee Industrial Way in Suwanee, GA. Their location offers immediate access to Interstate 85, a major north-south corridor connecting Atlanta to Charlotte and the Mid-Atlantic. The buildings are 96% leased to 23 high-quality tenants.
“This portfolio broadens our presence in a premier US transportation hub,” said Lew Friedland, Managing Director at Colony Capital and head of Colony Industrial. “We are selectively acquiring infill industrial buildings in high-demand markets to provide the critical last-mile link in the delivery cycle, and with this acquisition we now own 7.7 million square feet of light industrial logistics property in Atlanta.”
Matt Tritschler and Peter Everett of Newmark Knight Frank acted as real estate brokers on the transaction.
About Colony Industrial
Headquartered in Dallas, TX, Colony Industrial is the industrial platform of Colony Capital, Inc. The platform owns and operates 47.5 million square feet of warehouse buildings in 20 major markets across the United States, with a gross asset value of more than $3.5 billion as of June 30, 2018. Its diversified tenant base includes major national B2B, B2C, wholesale and consumer businesses. For more information, visit www.clny.com/industrial.
About Colony Capital, Inc.
Colony Capital, Inc. (NYSE: CLNY) is a leading global investment management firm with assets under management of $43 billion. The company manages capital on behalf of its stockholders, as well as institutional and retail investors in private funds, non-traded and traded real estate investment trusts and registered investment companies. Colony Capital has significant holdings in: (a) the healthcare, industrial and hospitality property sectors; (b) Colony Credit Real Estate, Inc. (NYSE: CLNC) and NorthStar Realty Europe Corp. (NYSE: NRE), which are both externally managed by subsidiaries of Colony Capital; and (c) various other equity and debt investments. Colony Capital is headquartered in Los Angeles with over 400 employees in offices located across 17 cities in ten countries. For additional information regarding the Company and its management and business, please refer to www.clny.com.
View source version on businesswire.com:https://www.businesswire.com/news/home/20181005005075/en/
CONTACT: For Colony Industrial
Lisa Baker, 914-725-5949
Caroline Luz, 203-656-2829
KEYWORD: UNITED STATES NORTH AMERICA GEORGIA TEXAS
INDUSTRY KEYWORD: TRANSPORT LOGISTICS/SUPPLY CHAIN MANAGEMENT REIT CONSTRUCTION & PROPERTY COMMERCIAL BUILDING & REAL ESTATE
SOURCE: Colony Industrial
Copyright Business Wire 2018.
PUB: 10/05/2018 07:00 AM/DISC: 10/05/2018 07:00 AM