Realterm Logistics announces the acquisition of a 65,500-square-foot final mile warehouse and 22,400-square-foot maintenance shop located at 5230 Feldwood Road, College Park, GA. The building sits on 13.5 acres.
The property is strategically located with immediate access to Route 29 which connects to major interstates such as I-285, I-20 and I-85. Additionally, it is only 10 minutes from Hartsfield-Jackson Atlanta International Airport and 18 minutes from downtown Atlanta. The site offers access to more than three million people within a 45-minute drive.
"This property is an extremely well-located last mile location that offers a unique combination of distribution space coupled with an onsite maintenance service facility," said Arnie Capute, Associate Vice President, Acquisitions, East Region. "Despite COVID-19, the Atlanta industrial market experienced 20.5 million square feet of net absorption in 2020, which outpaced 2018 and 2019 totals."
The maintenance shop enables prospective tenants the ability to perform fleet maintenance or have covered cab/trailer parking on-site. The site offers separate ingress/egress for car parking and truck court, shop and excess trailer parking.
"This investment is representative of Realterm Logistics Fund III's strategy to acquire highly functional final mile delivery properties proximate to key consumer markets which are projected to outperform the broader U.S.," said Ed Brickley, Managing Director and Senior Fund Manager.
Rick Tumlin, Mike Sutter and Murray Gray of Lee & Associates represented Realterm and facilitated the sale.
Highlights of the property include:
- Square feet: 87,900 SF
- Land area: 13.5 acres
- Doors: 17 loading positions
- Access: Route 29, I-285, I-20 and I-85