Graham Commercial Properties Buys Industrial Portfolio in Metro Atlanta for $53.3M

ATLANTA — Birmingham, Ala.-based Graham Commercial Properties (GCP) has purchased a three-property portfolio of industrial buildings in metro Atlanta totaling $53.3 million. The portfolio comprises six Class A, bulk distribution buildings totaling 979,650 square feet. The portfolio includes Progress Center, a two-building, 451,200-square-foot property located at 2200 and 2225 Cedars Road in Lawrenceville; Air Commerce Center, a two-building, 268,400-square-foot property located at 4900 St. Joe Blvd. in College Park; and North Atlanta Distribution Center, a two-building, 260,050-square-foot industrial property located at 5065 and 5075 Buford Highway in Norcross. The buildings feature 24- to 30-foot clear heights, and the combined occupancy was 92 percent at the time of closing. CBRE represented the seller, Boston-based TA Realty, in the transaction, and GCP was represented in-house. Notable tenants include Innotrac, Zodiac Services, Wurth Wood and Carrier. Wells Fargo Bank provided acquisition financing on behalf of GCP. With this acquisition, GCP now controls 1.2 million square feet of industrial space in the Atlanta area.