Colliers International’s Atlanta-based Industrial Investment Services Group recently closed on the $30 million sale of Perimeter East Industrial Park, an eight-building, 775,339-square-foot property near Interstate 285 in DeKalb County, Ga. The property was 100% leased at closing.
Shreveport-based Sealy & Companypurchased the property from High Street Realty Company, based in Boston.
Dennis Mitchell and Matt Wirth of the Colliers International Industrial Investment Services Group represented High Street Realty in the transaction. High Street acquired the portfolio in an off-market transaction at approximately 65% occupancy level and with the risk of multiple near-term expirations. They successfully stabilized the portfolio through renewals, expansions and new leasing to prepare for a sale.
Perimeter East Industrial Park is located in a true in-fill location on Interstate 285, with excellent access to the airport, I-20, I-75, I-675 and Atlanta’s central business district. It is ideal for all general industrial purposes, and has untapped potential for last-mile delivery uses.
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