ATLANTA—Hillwood Company just acquired Gwinnett 316, a 15-building distribution park spanning 2.2 million square feet in Atlanta's Interstate 85/Northeast submarket. Ross Perot owns Hillwood, one of the largest private real estate developers and investors in the US.
“With a top 10 economy and one of the fastest-growing regions in the nation, Atlanta is largely considered the economic hub of the Southeast,” says Todd Parker, senior vice president and southeast market leader at Hillwood. “We see tremendous growth in this market and with opening our new Atlanta office, this infill portfolio expands the Hillwood footprint to 4.7 million square feet in metro Atlanta.”
Gwinnett 316 sits one mile off GA Hwy 316. That means tenants have fast access to Interstate 85 (running North-South through Downtown Atlanta), Interstate 285 (metro Atlanta's perimeter highway), and Gwinnett County's growing population base. The Interstate 85 Northeast submarket is Atlanta's largest with about 154 million square feet.
“We don't see high-quality established industrial parks like Gwinnett 316 come on the market very often, so we worked hard to make this transaction happen,” says Tom Fishman, executive vice president of acquisitions and dispositions at Hillwood. “With a deep and diversified labor base, excellent amenities and superior location, this property marks another very strategic and competitive acquisition for Hillwood.”
The acquisition is part of a 424-acre master planned development and includes 15 rear and front loading distribution buildings ranging from 70,000 to 200,000 square feet. The average construction date of the buildings is 1992.
The buildings offer modern amenities such as an average 24-foot clear height, ESFR sprinkler systems, T-5 lighting, and low office build out. Hillwood has launched major capital improvements targeting landscaping, parking lot and roof refurbishments, and make-ready improvements of vacant space.
“Atlanta's industrial market has two primary drivers—transportation and population,” Todd Barton, first vice president of CBRE Industrial Properties, tells GlobeSt.com. “Our transportation network—HJ Intl Airport, 5 interstates in GA, 2 class 1 railroads with intermodal facilities, Port of Savannah—makes us the clear hub of the southeast for regional distribution. Atlanta's population base, now over 5.7 million, is a huge driver of the industrial base. As our population continues to grow get, our industrial base will respond accordingly.”
ATLANTA—Hillwood Company just acquired Gwinnett 316, a 15-building distribution park spanning 2.2 million square feet in Atlanta's Interstate 85/Northeast submarket. Ross Perot owns Hillwood, one of the largest private real estate developers and investors in the US.
“With a top 10 economy and one of the fastest-growing regions in the nation, Atlanta is largely considered the economic hub of the Southeast,” says Todd Parker, senior vice president and southeast market leader at Hillwood. “We see tremendous growth in this market and with opening our new Atlanta office, this infill portfolio expands the Hillwood footprint to 4.7 million square feet in metro Atlanta.”
Gwinnett 316 sits one mile off GA Hwy 316. That means tenants have fast access to Interstate 85 (running North-South through Downtown Atlanta), Interstate 285 (metro Atlanta's perimeter highway), and Gwinnett County's growing population base. The Interstate 85 Northeast submarket is Atlanta's largest with about 154 million square feet.
“We don't see high-quality established industrial parks like Gwinnett 316 come on the market very often, so we worked hard to make this transaction happen,” says Tom Fishman, executive vice president of acquisitions and dispositions at Hillwood. “With a deep and diversified labor base, excellent amenities and superior location, this property marks another very strategic and competitive acquisition for Hillwood.”
The acquisition is part of a 424-acre master planned development and includes 15 rear and front loading distribution buildings ranging from 70,000 to 200,000 square feet. The average construction date of the buildings is 1992.
The buildings offer modern amenities such as an average 24-foot clear height, ESFR sprinkler systems, T-5 lighting, and low office build out. Hillwood has launched major capital improvements targeting landscaping, parking lot and roof refurbishments, and make-ready improvements of vacant space.
“Atlanta's industrial market has two primary drivers—transportation and population,” Todd Barton, first vice president of CBRE Industrial Properties, tells GlobeSt.com. “Our transportation network—HJ Intl Airport, 5 interstates in GA, 2 class 1 railroads with intermodal facilities, Port of Savannah—makes us the clear hub of the southeast for regional distribution. Atlanta's population base, now over 5.7 million, is a huge driver of the industrial base. As our population continues to grow get, our industrial base will respond accordingly.”
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