Stone Mountain Industrial Park

Ackerman & Co., Investcorp Acquire 4.1M SF Industrial Portfolio in Metro Atlanta for $135M

by John Nelson

STONE MOUNTAIN, GA. — Ackerman & Co., a private real estate investment firm based in Atlanta, has partnered with global finance firm Investcorp to purchase Stone Mountain Industrial Park, a 4.1 million-square-foot development spanning 69 buildings in the Tucker/Stone Mountain submarket of Atlanta. Ackerman and Investcorp purchased the portfolio for $135 million.

The seller, Pattillo Industrial Real Estate, originally developed and master-planned the properties.

“Both Ackerman and Pattillo have long and successful histories in Atlanta real estate,” says Kris Miller, president of Ackerman & Co. “Investcorp and Ackerman are fortunate to now own these well-built and strategically located properties.”

The portfolio of shallow-bay industrial warehouses includes single- and multi-tenant configurations of front-, rear- and side-load designs ranging from 5,000 to 200,000 square feet. Most spaces offer outside storage.

Stewart Calhoun, David Meline, Samir Idris and Casey Masters of Cushman & Wakefield brokered the sale on behalf of Pattillo.

“We congratulate Ackerman and Investcorp on their bold new investment. They are committed to an area that has a Community Improvement District, a newly incorporated city of Tucker and a sterling location that has served a strong business community for many years,” says Larry Callahan, CEO of Pattillo Industrial Real Estate.

Brett Buckner of Ackerman & Co. will manage the leasing and user-sales at Stone Mountain Industrial Park. The Ackerman & Co. property management division will provide on-site management.

To date, Ackerman & Co. has developed and acquired nearly 35 million square feet of office, medical, industrial, retail and mixed-use space and has more than 7 million square feet under management. The firm’s current investment portfolio is valued at $1 billion.

Investcorp is a provider and manager of alternative investment products and is publicly traded on the Bahrain Bourse stock exchange. The Investcorp Group has offices in Bahrain, New York, London, Saudi Arabia and Abu Dhabi. The firm has three business areas: corporate investment in the U.S., Europe and the Gulf; real estate investment in the U.S.; and global hedge funds. As of June 30, the Investcorp Group had $10.6 billion in total assets under management, including assets managed by third-party entities.

— John Nelson

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