JLL Arranges $28.1M Sale of Three-Property Industrial Portfolio in Metro Atlanta

by John Nelson

KENNESAW AND NORCROSS, GA. — JLL Capital Markets has brokered the $28.1 million sale of a three-property light industrial and flex portfolio in metro Atlanta totaling 172,881 square feet. Matt Wirth, Ralph Smalley, Jim Freeman and Max Coffin of JLL represented the seller, Deerfield Beach, Fla-based Geneva Group, in the transaction. Miami-based Adler Real Estate Partners was the buyer. The properties included a 46,808-square-foot facility at 1965 Vaughn Road in Norcross, a 61,073-square-foot light industrial building at 4955 Avalon Ridge Parkway in Norcross and a 65,000-square-foot flex property at 1155 Roberts Blvd. in Kennesaw. Completed between 1992 and 1996, the Norcross buildings feature 22-foot clear heights, 27 dock-high doors, four drive-in doors and approximately 3.5 years of weighted average remaining lease term. The Kennesaw asset was built in 1991 and houses two unnamed, globally recognized tenants with over six years of weighted average remaining lease term.

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