Atlanta Property Group Acquires Industrial Portfolio

Atlanta Property Group (APG) has acquired three industrial properties and one office property in Kennesaw, Georgia for a combined purchase price of $48.7 million. As the firm’s first industrial transaction in Atlanta’s northwest submarket, the acquisition highlights the firm’s efforts to expand its portfolio since reentering the industrial market in 2021. 

The portfolio comprises three warehouse facilities totaling 305,000 square feet located near Chastain Road with direct access to I-75 and I-85. Constructed in the mid-90s, the rear-load buildings feature 24-foot clear heights to meet a variety of tenant needs. The properties are 100% leased to six tenants. 

Built in 2000, the office property is a single-story building spanning 72,000 square feet with a parking ratio of 5/1,000. Currently 73% leased with one vacancy totaling approximately 20,000 square feet, the property is near Kennesaw State University, as well as the I-75 and I-575 interchanges. Austin Chase and Grace Thompson of APG are handling leasing of the office building. 

Since reentering the industrial sector last year, APG has acquired 11 buildings totaling nearly 1 million square feet across the Atlanta, Charlotte and Nashville MSAs. The firm is targeting investment opportunities in key logistics hubs across the southeast, with plans to deploy $100 million of committed equity into existing industrial properties in markets including Atlanta, Charlotte, Nashville, Raleigh, and Central Florida by the end of 2023.