Crow Holdings Industrial Sells Industrial Property in Atlanta
IREI (October 6, 2020) -
Crow Holdings Industrial (CHI), the industrial development company of Crow Holdings, has sold a 234,000-square-foot, class A distribution building in Atlanta to TA Realty. Terms of the transaction were not disclosed.
CHI completed construction on South Fulton Logistics Center (SFLC) in April 2019. The building is located in the heart of Atlanta’s I-85 South submarket, providing desirable access to Atlanta’s main traffic arteries and Hartsfield-Jackson International Airport. SFLC provides modern, rear-load distribution space featuring 32-foot clear height, ample trailer and employee parking with multiple points of ingress and egress. The property boasts competitive operating expenses due to a tax abatement with Fulton County, Ga. The building is 68 percent leased to Greenball Corp.
This sale represents CHI’s sixth disposition in the Atlanta market in less than two years. Since 2017, CHI has developed or has currently under construction 4.4 million square feet of industrial property across 10 projects in the Atlanta market.
“The Atlanta market for industrial has seen incredible demand. Our experienced, local team was able to successfully complete this transaction given South Fulton Logistics Center’s recent, state-of-the-art construction and ideal location with superior access to major transportation routes and Hartsfield-Jackson Airport,” said John Bateman, managing director at CHI.
Ken Valach, CEO of CHI, added, “We continue to see substantial opportunity to grow our presence in the Southeast region of the United States.”