ATLANTA-Transwestern's Atlanta office reports it has brokered the $5.9-million sale of a 122,880-square-foot industrial warehouse facility at 4695 Aviation Parkway in the Airport South industrial submarket here.
Briggs Equipment, a materials handling equipment provider, acquired the property from an unnamed real estate pension fund. Transwestern represented Stockbridge Capital Group, which served as the advisor to the seller, a real estate pension fund.
The 4695 Aviation Parkway building is the largest warehouse facility located within International Airport Park, a master-planned industrial campus totaling nine buildings and 523,592 square feet. Briggs will occupy 100% of the firm's new facility once the build-out is completed. Stockbridge Capital Group will remain the advisor for the other eight IAP buildings.
“The sale of this facility is a win from many perspectives," says Brent Dutson, Transwestern's vice president and industrial specialist. "The entire International Airport Park will benefit from Briggs' long-term investment and commitment to occupy a significant portion of the vacant space. Most notably, this transaction will continue to tighten the Airport South market, particularly for the demand of space within the 80,000- to 120,000-square-foot range."
Transwestern's Dutson and Julian Brown, principal, who represented seller, will continue to lease and manage all other properties at IAP. James Wiant with Wiant Commercial Real Estate represented Briggs in the transaction.
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