Company and partners Huntington Industrial Partners and Ascentris, announce the sale of Fairburn 85 Distribution Center, a Class A, speculative industrial building totaling 317,520 square feet to GLP US Management LLC. The ownership team acquired the 29.73-acre land site, which is located in the I-85 South Atlanta submarket, in 2014.
“This was our first speculative industrial development in Atlanta this cycle, and we couldn’t be more pleased with the quality of the building, the strength of the I-85 submarket and the partnership we shared with Huntington and Ascentris,” said Mark Dishaw, Principal of Trammell Crow Company’s Atlanta Business Unit.
Fairburn 85 Distribution Center features a 32-foot clear, modern, cross-dock warehouse with efficient ingress/egress. The site is well positioned in the industrial market along I-85, providing direct connection to Atlanta’s I-285 metro loop. It is also in proximity to Hartsfield-Jackson International Airport and the CSX Intermodal Facility.
Chris Riley, Frank Fallon and Trey Barry, all with CBRE Atlanta represented the owners in the sale.
About Huntington Industrial Partners Real Estate Investors
Huntington Industrial Partners is an industrial real estate operating company with a strategic focus on acquiring and developing industrial properties in select U.S. markets. The strategy is executed by local teams with extensive industrial experience, market knowledge, and established network of market contacts.
Ascentris is a real estate private equity firm based in Denver, Colorado. Formerly known as Amstar Advisers, Ascentris invests in and manages institutional real estate, both directly and through joint venture partners, on behalf of institutional clients. Since 2003, the Ascentris management team has focused exclusively on value-add and opportunistic investments across all the major property types and geographic regions within the United States.
Built on a foundation of transparency and accountability, Ascentris maintains an unwavering commitment to put its clients’ needs first. Ascentris is a privately held and employee owned SEC registered investment adviser. Additional information is available at www.ascentris.com.
About Trammell Crow Company
Trammell Crow Company (TCC), founded in 1948, is one of the nation’s leading developers and investors in commercial real estate. The Company has developed or acquired more than 2,600 buildings valued at more than $60 billion and over 565 million square feet. As of June 30, 2017, TCC had $5.9 billion of projects in process and $5.9 billion in its pipeline.
Trammell Crow Company’s teams are dedicated to building value for its clients with professionals in 16 major cities throughout the United States. The company serves users of and investors in office, industrial, retail, healthcare, multi-family residential, through its operating subsidiary High Street Residential and mixed use projects. For those who occupy real estate, TCC can execute the development or acquisition of facilities tailored to meet its clients’ needs. For investor clients, the company specializes in joint venture speculative development, acquisition/re-development ventures, build-to-suit development or providing incentive-based fee development services.
TCC is an independently operated subsidiary of CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, and the world’s largest commercial real estate services and investment firm (in terms of 2016 revenue). For more information, visit www.TrammellCrow.com.