Firm purchases two industrial facilities in the heart of the Atlanta Airport submarket.
ATLANTA, GA, August 25, 2023 /24-7PressRelease/ -- Investing in Atlanta's preeminent industrial submarket, Ackerman & Co. has purchased two distribution facilities totaling 395,269 square feet in a prime infill location adjacent to Hartsfield-Jackson Atlanta International Airport. The facilities, part of the three-building Henry Ford Distribution Center, are in the Atlanta Airport/South Atlanta submarket and are 100% leased to six tenants.
Located at 4099 Old Dixie Highway, the facilities include 165,365-square-foot Building 1 and 229,904-square-foot Building 2. Ackerman & Co. represented itself in the purchase. The price and the seller were not disclosed.
"This was a great opportunity for us to acquire fully-leased distribution buildings occupied by tenants whose rental rates are significantly lower than market rates. This is also a rare infill location in Atlanta's largest and most dynamic industrial market," said Evan Ziegler, Senior Vice President of Investments for Ackerman & Co. "These facilities offer outstanding logistical advantages, with their strategic access to I-75 and I-285, as well as proximity to the world's busiest airport and its high-capacity cargo terminal."
With their location less than 1 mile from I-75 and just over 1 mile from I-285 and convenient access to the rest of the metro area's extensive Interstate system, the facilities are positioned to serve both last-mile and regional distribution. Hartsfield-Jackson Airport is 1.5 miles from the property, and Cargo Terminal South is 3 miles away. The facilities feature 24-foot clear heights, 36 dock-high doors and TPO roofing.
Tenants occupying the facilities include Delta Air Lines, Morrison Express, Aviation Inflatables, Restoration Sleep, Tara Plastics and Mile Marker Logistics, which utilize the buildings for business operations including distribution, HQ space and administrative offices.
The Airport/South Atlanta submarket is one of the largest industrial hubs in the U.S., with an inventory of 129 million square feet serving as regional and national distribution centers for a wide mix of companies.
Rent growth in the submarket remains strong, with annual rent growth topping 11 percent and current asking rates registering $7.83 per square foot. Vacancy levels, currently 5 percent, indicate that the market remains very tight, with limited space availabilities.
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 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 4 million square feet under management, and a growing focus on self-storage investment. For more information, visit www.ackermanco.com
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