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Los Angeles Firm Boosts Atlanta Light Industrial Portfolio to 7.7 Million SF with Latest Investment

Colony Industrial Acquires 9 Properties Totaling Nearly 1 Million SF
October 8, 2018
The building at 1645 Satellite Blvd. in Duluth, Georgia, is one of nine light industrial properties acquired by Colony Industrial.

The light industrial platform of Los Angeles real estate investment firm Colony Capital has closed on a nearly 1 million-square-foot industrial portfolio that boosts its holdings in greater Atlanta to more than 7.7 million square feet.

Colony Industrial, which primarily invests in properties ranging from 50,000 to 250,000 square feet, finalized a deal with John Hancock Real Estate, the real estate arm of Canadian insurance company Manulife Financial Corp., to acquire nine warehouses totaling 890,920 square feet along Interstate 85 in northeast Atlanta.

“This portfolio broadens our presence in a premier US transportation hub,” said Lew Friedland, managing director at Colony Capital and head of Colony Industrial, which has $43 billion of assets under management. “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 7.7 million square feet of light industrial logistics property in Atlanta.”

The portfolio is 96 percent leased to 23 tenants, including General Electric, Aetna and UPS, and includes six buildings at 2150 Boggs Rd. NW (Buildings 100, 200, 300, 400, 500 and 600) in Duluth; one building at 1645 Satellite Blvd. in Duluth; and two buildings at 2925 and 3255 Shawnee Industrial Way in Suwanee. The buildings were primarily constructed between 1986 and 1999, according to CoStar Information.

Matt Tritschler and Peter Everett of Newmark Knight Frank brokered the sale for John Hancock Real Estate.

Please see CoStar COMPS #4534977 for more information on this transaction.

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