Colony Industrial expands warehouse portfolio in Atlanta
Colony Industrial has expanded its light industrial warehouse portfolio in Atlanta with the acquisition of nine properties.
The $3.5bn (€3.03bn) industrial platform of Colony Capital said it has bought the Atlanta NE/I-85 industrial portfolio consisting of nine warehouse properties for an undisclosed sum.
The properties total 890,920sqft in six buildings at 2150 Boggs Road Northwest, one building at 1645 Satellite Boulevard and two buildings at 2925 and 3255 Shawnee Industrial Way in Suwanee.
The buildings are 96% leased to 23 tenants.
Lew Friedland, a managing director at Colony Capital and head of Colony Industrial, said: “This portfolio broadens our presence in a premier US transportation hub.
“We are selectively acquiring infill industrial buildings in high-demand markets to provide the critical last-mile link in the delivery cycle, and with this acquisition, we now own 7.7m square feet of light industrial logistics property in Atlanta.”
The platform owns and operates 47.5m square feet of warehouse buildings in 20 major markets across the US.