HFF Arranges Acquisition Financing for Two Georgia Industrial Properties
In the past 24 months, Citimark has grown its southeast industrial portfolio from zero to nearly 1.1 million square feet across 22 buildings.
ATLANTA AND SAVANNAH, GA—Holliday Fenoglio Fowler arranged financing for the acquisition of two industrial properties, 437 Telfair Road and Hartsfield International Commerce Center, which include four buildings and 317,133 square feet of space in Atlanta and Savannah, GA.
The HFF team of senior director Ken Martin and senior managing director Ed Coco worked on behalf of the borrower, Citimark, to place the floating-rate loan with First Financial Bank for the property at 437 Telfair Road and the fixed-rate loan with American Equity Investment Life Insurance Company for Hartsfield International Commerce Center. Additionally, HFF will service the loan for Hartsfield International Commerce Center.
“The acquisition of these assets represents Citimark’s continued growth of its industrial portfolio throughout the Southeast,” Martin says. “In the past 24 months, Citimark has grown its southeast industrial portfolio from zero to nearly 1.1 million square feet across 22 buildings.”
The 207,633-square-foot 437 Telfair Road was constructed in 2007. The single-tenant distribution building has a clear height of 24 feet, function depth of 190 feet, 28 dock-high doors, two drive-in doors and a 165-foot truck court for extra trailer storage in addition to having two percent office finish. The property is one mile from the Interstate 16/US-80 interchange, four miles from the Port of Savannah and six miles east of Interstate 95, which runs north-south all the way up and down the East Coast. 437 Telfair Road is about four hours from Atlanta, Orlando and Charlotte.
Home to 10 tenants, Hartsfield International Commerce Center comprises three buildings with 18-foot clear heights and totaling 109,500 square feet that is 100 percent leased. The industrial center is situated on 6.6 acres at 4820 Clark Howell Highway across Interstate 285 from Hartsfield-Jackson Atlanta International Airport. The center also is southwest of the interchange of Interstates 285/85 and 75, providing access into Alabama and Florida.