873,800 SF Core5 Logistics Center at Shugart Farms Purchased by Private Investor
Atlanta-based Core5 Industrial Partners announced today the recent sale of their initial development in Metro Atlanta, 873,800-square-foot Core5 Logistics Center at Shugart Farms, to a private institutional investor. The high cube logistic facility completed construction in early 2017 and is fully leased on a long-term basis to The Duracell Company, a wholly-owned subsidiary of Berkshire Hathaway.
“The location, building quality, site functionality and the tenant were all key elements which made this asset highly sought after by investors,” stated Lisa Ward, Senior Vice President and Managing Director for Core5. “We are delighted with the results of our first investment in Metro Atlanta. Core5 is very bullish on the market and has another 4.8 million square feet in seven projects under construction or in the immediate pipeline around the city. We continue to see significant demand from large-scale users in the metro area with absorption outpacing supply.”
Core5 was represented on the investment sale by Chris Riley, Frank Fallon and Trey Barry of CBRE National Partners.
“Core5 Logistics Center at Shugart Farms was one of the best industrial investment offerings in the country and achieved pinnacle pricing for the Atlanta market,” noted Chris Riley of CRBE National Partners.
About Core5 Industrial Partners
Core5 Industrial Partners is an industrial real estate property company with expertise in development and acquisition of Class-A industrial properties throughout the United States. Headquartered in Atlanta, Georgia and named for its five core business principles, Core5 was capitalized in 2015 by Kajima USA Group following the sale of their $2 billion-dollar portfolio, IDI, to Brookfield.
With current development activity totaling over 7.5 million square feet in Atlanta, Chicago, Dallas, Los Angeles/Inland Empire, Memphis and South Florida, Core5 expansion plans include the key logistic hubs throughout the US.
For more information on Core5 Industrial Partners, visit www.c5ip.com.
Located in six key logistics hubs across the country, CBRE National Partners is the national market share leader in industrial investment sales transacting more than 132 million square feet in 2016. The Southeast team has been responsible for $18.2 billion in transactions nationwide.