Project Main Details
2014-06-05 15:27:53 GMT 2014-06-09 15:00:00 (GMT -05:00) Eastern Time (US & Canada) Yes (click here to learn more about ) Closed 10 10 0 direct invitation(s) have been sent by the voice seeker resulting in 0 audition(s) and/or proposal(s) so far. Voice123 SmartCast is seeking 10 auditions and/or proposals for this project (approx.) Invitations sent by SmartCast have resulted in 10 audition(s) and/or proposal(s) so far.
The metro Atlanta’s industrial market encompasses 586 million square feet. The market led the nation in the first quarter of 2014 with over than 4.4 million square feet of positive net absorption.
On behalf of Clarion, CBRE is proud to introduce the North Atlanta Distribution Portfolio, encompassing 2.5 million square feet of highly functional Class B warehouse product located in infill segments of the I-85 Northeast and I-75 Northwest Atlanta industrial submarkets.
The I-85 Northeast submarket is Atlanta’s largest industrial submarket with 155 million square feet of product.
Peachtree Corners Business Park is positioned in a true infill location along the I-85 corridor in between the Doraville and Norcross infill industrial subsets, which consist of 20.8 million square feet of warehouse product with 22’ plus clear heights. This grouping experienced over 470,000 square feet of positive net absorption in 2013 resulting in a 2.3% increase in occupancy. Continued leasing momentum in the first quarter of 2014 has resulted in a current vacancy rate of 7.6% in this subset.
********************************* critical mass of almost 2 million square feet provides a new owner with size, scale and operating efficiencies in one of the most sought after locations in Atlanta’s industrial market.
The I-75 Northwest industrial submarket contains 61.5 million square feet of product and boasted 1.6 million square feet of positive net absorption in 2013. The submarket is driven by strong residential growth patterns and excellent demographics.
****************** is located on the I-75 corridor within the Southeast Cobb/Marietta infill industrial subset. This location presents significant barriers to entry, and land for competitive development is scarce.
****************** offers a desirable business park environment with direct access to I-75 via the Canton Road Connector. Rear load distribution buildings designed with multiple storefronts provide flexibility to accommodate a wide variety of tenants. ****************** is currently 88.6% leased with 2.6 years of weighted average lease term remaining. Assets in the surrounding competitive parks are 93% occupied.
The North Atlanta Distribution Portfolio, with high-quality functional assets in irreplaceable infill locations, offers the ability to become an immediate household name in the Atlanta industrial market or add to an existing portfolio. At 2.5 million square feet, the portfolio provides size, scale and operating efficiencies in a tier one industrial market with a proven recovery story. Plummeting vacancy rates and limited opportunities for competitive development poise this portfolio to benefit from continued leasing momentum, renal rate growth and NOI appreciation for years to come.
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