Colliers International’s Atlanta-based Industrial Investment Services Group recently closed the $16.3 million sale of 1001 Cherry Drive, a 455,602-square-foot bulk distribution facility located in Braselton, Georgia, directly adjacent to Interstate 85 at exit 129 in the Northeast Atlanta submarket. The property was 100% leased at the time of sale to two tenants.
1001 Cherry Drive was originally a part of a manufacturing and distribution campus for Mitsubishi Consumer Electronics, but was repurposed as a multi-tenant warehouse facility, taking advantage of its strategic location. With immediate access to I-85 and positioned in the center of one of Atlanta’s fastest growing bulk industrial corridors, the property provides exceptional distribution capabilities to the Atlanta Metro Area, the Southeast, and the eastern seaboard. It also offers interstate frontage visibility to hundreds of thousands of vehicles daily.
An affiliate of Novaya Foxfield Industrial LLC purchased the property from Mayfield Properties. Dennis Mitchell and Matt Wirth of the Colliers International Industrial Investment Services Group represented Mayfield Properties in the transaction.
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Colliers International Group Inc. (NASDAQ: CIGI) (TSX: CIGI) is an industry-leading global real estate services company with a global brand operating in 69 countries and a workforce of more than 12,000 skilled professionals serving clients in the world’s most important markets. Colliers is the fastest-growing publicly listed global real estate services company, with 2017 corporate revenues of $2.3 billion ($2.7 billion including affiliates). With an enterprising culture and significant employee ownership and control, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide. Services include strategic advice and execution for property sales, leasing and finance; global corporate solutions; property, facility and project management; workplace solutions; appraisal, valuation and tax consulting; customized research; and thought leadership consulting.
