(Read more on the industrial market.)
ROSWELL, GA-BPG Properties, based in Philadelphia, closed todayon the purchase of a 20-building industrial portfolio. The salesprice was $93.5 million. Local market participants estimated thecap rate at about 7%. The buildings have a total of 1.22 million sfand are located in Roswell and Alpharetta. Senior director JimCarpenter and Ken Szady, both with Cushman & Wakefield,represented the seller.
The seller's identity was not disclosed but, Carpenter says theseller is a $1-billion-plus joint venture that bought a largeindustrial portfolio and is selling it off in pieces. The jointventure sold a1.15-million-sf portfolio in Nashville last month for $87.2million, as GlobeSt.com reported last month. Cushman &Wakefield also represented the seller in the Nashville sale.
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