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.”
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This overview is designed to introduce Crow Holdings and its various operating companies. Crow Holdings Capital is a U.S. SEC registered investment adviser and is the manager to the Crow Holdings Capital Funds. Crow Holdings Partners, L.L.C. is a U.S. SEC registered investment adviser and is the manager of the Crow Holdings Industrial Build-to-Hold Fund. Crow Holdings Capital, Crow Holdings Partners, Trammell Crow Residential, Crow Holdings Industrial and Crow Holdings Office are operated separately and independently from one another with separate senior leadership and investment committees. SEC registration does not imply a certain level of skill or training.