(Read more on the industrial market.)

McDONOUGH, GA-Chicago-based First Industrial Realty Trust Inc. has acquired an 833,000-sf distribution facility at 180 West Ridge Parkway on behalf of its development/repositioning joint venture with the California State Teachers Retirement System.

The building is cross-docked with 500-foot building depth, 32-foot minimum clear height and features 182 dock high loading positions, four drive-in doors, 200-foot truck court depth and 189 trailer storage positions. The building is 100% vacant.

The transaction was handled by First Industrial Realty Trust senior investment officer Brady Scott and investment officer David O’Reilly, both of whom are based in Atlanta. Tom Shafer, of Resource Real Estate Partners, represented the seller.

The property is located in the Interstate 75 South/Henry County submarket of Atlanta. “The Interstate 75 South/Henry County submarket is the ‘gateway to Florida’ and is an important distribution location for customers serving the Southeast’s growing population,” Scott says.

First Industrial plans to reposition the property by reconfiguring dock packages and building out additional office space to serve one or two customers with large distribution needs. Todd Barton and Greg Haynes, of CB Richard Ellis, have been named leasing agents for the facility.

“We saw an opportunity to reposition a state-of-the-art quality building and create value through the fund,” O’Reilly tells GlobeSt.com. “We’ve budgeted additional capital that we feel is necessary to get the building in more of a make-ready condition.”

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