TUCKER, GA. — CBRE has secured a $26.4 million acquisition loan for Lavista Business Park, a 217,496-square-foot industrial property located on 11.8 acres at 2000-2068 Weems Road in Tucker, about 18 miles northeast of Atlanta.
Irvine, Calif.-based CIP Real Estate purchased the park from Dallas-based ATCAP Partners for $37 million. Mike Ryan, Brian Linnihan, Richard Henry and Taylor Crowder of CBRE Capital Markets’ Debt & Structured Finance team in Atlanta secured the five-year, floating-rate loan through LoanCore Capital on behalf of CIP.
Built in 1972, Lavista Business Park consists of four single-story, shallow-bay buildings that average 54,000 square feet in size and feature new roofing, 16- to 20-foot clear heights, 55 dock-high doors, one drive-in door and 209 parking spaces. The property was 92 percent leased at the time of sale to 15 tenants.