1.2-Million-Square-Foot Industrial Portfolio Sold
7 May, 2007, Chicago, IL
Cushman & Wakefield’s National Industrial Investment Team recently arranged the sale of Northmeadow Business Park, a 1.2-million-square-foot portfolio located in suburban Atlanta, GA, to Philadelphia-based BPG Properties. Executive Director Ken Szady, Senior Director Jim Carpenter and Senior Associate Joe Voet, with the firm’s Capital Markets Group based in Chicago, oversaw the marketing and disposition of the assets.
The 20-building portfolio is located in Roswell and Alpharetta, GA and is 85% leased. Notable tenants include Kimberly Clark, Bell South, Johnson Controls and UPS.
Sale price was $93.5 million.
This is the second industrial portfolio sale transaction the team has arranged in the past 30 days. The other was Airpark Business Center, a 1.1-million-square-foot, 13-building industrial portfolio located in Nashville, TN. It was sold to Sealy & Company in April for $87.2 million.
* * *
Cushman & Wakefield is the world’s preeminent commercial real estate services firm. Founded in 1917, the firm has 197 offices in 55 countries, and more than 11,000 professionals. Cushman & Wakefield delivers integrated solutions by actively advising, implementing and managing on behalf of landlords, tenants, and investors through every stage of the real estate process. These solutions include helping clients to buy, sell, finance, lease and manage assets. The firm also provides valuation advice, strategic planning and research, portfolio analysis, site selection and space location assistance, among many other advisory services. To find out more about Cushman & Wakefield, visit www.cushmanwakefield.com.
Contact: Beth Atkinson