ATLANTA—Stone Mountain Industrial Park, a 4.1 million-square-foot master-planned park in Atlanta's Tucker/Stone Mountain submarket, has traded hands. The sale price: $135 million.

Ackerman & Co. acquired the industrial park, which includes 69 buildings. Pattillo Industrial Real Estate originally developed the assets. Ackerman and Pattillo have been two of the leading Atlanta commercial real estate companies for the last 50 years.

Ackerman partnered with Investcorp—an alternative investment manager and active real estate investor in Atlanta and the Southeast—to complete the transaction. The deal closed in 75 days. Cushman & Wakefield's Stewart Calhoun, David Meline, Samir Idris, and Casey Masters brokered the sale on behalf of Pattillo.

Pattillo has managed and maintained Stone Mountain Industrial Park since it was first developed. The portfolio of shallow-bay industrial warehouses includes single-and multi-tenant configurations of front, rear and side-load designs ranging from 5,000 to 200,000 square feet. Most spaces offer outside storage.  

Atlanta's industrial market is hitting on all points. The Pauls Corporation, which acquires, develops, owns, manages, and markets commercial real estate properties in the US and Canada, just snapped up five industrial sites.

Trammell Crow Company and Allstate in October acquired another 57 acres of land in the Interstate 75 South Atlanta submarket. The site will be Phase II of King Mill Distribution Park and feature a class A industrial warehouse building.

"Regionally, we have been growing for decades," Sim Doughtie, president of King Industrial Realty/CORFAC International, tells GlobeSt.com. "The 29-county Atlanta region is now home to an estimated 5,614,323 people according to the 2014 list of Metropolitan Statistical Areas—that's ninth in the US and a population that is larger than 24 states."