Atlanta-area flex park sells for $11.65M to local buyer

ATLANTA, October 1, 2020 – JLL Capital Markets announced today that it has closed the $11.65 million sale of Plaza 85 Business Park, a nine-building industrial, office and flex park totaling 191,526 square feet within a Qualified Opportunity Zone in the Atlanta-area community of Norcross, Georgia.

JLL worked on behalf of the seller, Sperry Equities. Atlanta-based WePartner purchased the asset.

Plaza 85 Business Park is home to 31 tenants and features clear heights ranging from 12 to 18 feet, both dock-high and drive-in doors and a combination of rear- and front-loading configurations. The park is situated on 13.8 acres at 5970-6040 Unity Drive in the Northeast Atlanta Industrial submarket, Atlanta’s most infill industrial submarket. Additionally, the park is directly on and has immediate access to Interstate 85, the industrial backbone of the Southeast. This last-mile location allows tenants to access more than 3.8 million people within a 30-minute drive.

The JLL Capital Markets team representing the seller was led by Dennis Mitchell, Matt Wirth, Britton Burdette and Crosby Taylor.

“As companies compete on the e-commerce battlefield, proximity to the customer base has become one of the most effective ways to cut down on shipping costs and delivery times,” Mitchell said. “The convergence of last-mile connectivity, highly affluent suburbs and interstate access makes this a highly desirable location.”

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

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