February 4, 2020
Plymouth Industrial REIT has acquired a five-property warehouse and distribution portfolio in Atlanta and Savannah for $34.7 million.
The 924,036-square-foot portfolio is comprised of two Atlanta-area properties in Shannon and Covington as well as three Savannah-area properties. The portfolio features clear heights ranging from 20 to 40 feet, 66 dock-high doors and low office finish. Another 60 acres of land adjacent to the Shannon property was retained by the seller, which can develop up to 750,000 square feet.
Britton Burdette, Matt Wirth, Pete Pittroff, Dennis Mitchell, Patrick Nally and Crosby Taylor of JLL represented the seller, Hight|Knox Properties, in the transaction.
“The Georgia Industrial portfolio is a perfect example of investors’ growing appetite for below replacement cost industrial assets within strong performing market with a high growth outlook,” said Burdette.
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Tags: Acquisition, Industrial
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Plymouth Industrial Acquires Georgia Distribution Portfolio for $35M
David Cohen
