News release

Fundrise acquires strategic Atlanta industrial facility for $30.4M

JLL Capital Markets closed the sale of the single-tenant, net-leased property in key Atlanta logistics hub 

March 09, 2022

Kimberly Steele

Occupier PR
+1 713 852 3420

ATLANTA, March 9, 2022 – JLL Capital Markets announced today that Fundrise, the country’s largest direct-to-investor real estate investment platform, acquired Aerotropolis North, a more than 200,000-square-foot modern industrial and logistics facility in Atlanta, Georgia, for $30.4 million.

Bixby Land Company, an Orange County, California-based commercial real estate owner, operator and investor, sold the property to Fundrise in the transaction brokered by JLL Capital Markets.

Located at 3435 Jonesboro Rd. SE, Aerotropolis North is a single-tenant distribution facility leased to Kal Freight, Inc. The location is less than one mile from the major logistical thoroughfare of Interstate 285 and only 10 minutes from Hartsfield-Jackson International Airport. This strategic location provides rapid access to the dense logistical network surrounding the airport with near immediate access to Atlanta’s five major interstates, reaching 1.8 million people within a 30-minute radius.

“Expanding our exposure in the last-mile industrial sector is an important strategic focus for us on behalf of our growing investor base. The continued growth of e-commerce has reshaped consumer demands, making this one of the fastest-growing asset classes in our real estate portfolio,” said Fundrise Co-Founder and CEO Ben Miller. “Aerotropolis North is strategically located in a key Atlanta region, near major transportation and shipping hubs, and is a modern facility that will continue to broaden our access to this high-performing real estate asset class for our over 220,000 individual investors.”

Constructed in 2020, Aerotropolis North is fully leased to Kal Freight, Inc., a provider of modern transportation services, and houses some of its warehousing, distribution, and administrative offices. The front-load building is situated on 16.2 acres and offers a 32-foot clear height, 31 dock-high doors, two drive-in doors, 29 trailer parking stalls, LED lighting, ESFR fire protection and 115 auto parking spaces.

The JLL Capital Markets Investment Sales and Advisory team that represented Bixby Land Company was led by Dennis Mitchell, Matt Wirth, Britton Burdette and Bo Osgood.

“Closing as one of the lowest cap rates in Atlanta, this deal includes a short-term lease with below-market rents, presenting investors with a significant mark-to-market opportunity upon lease expiration,” Mitchell added. “With a premier location and great connectivity, the property is an ideal infill logistics location, providing users convenient access to metro Atlanta and beyond.”

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 and sales advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $19.4 billion, operations in over 80 countries and a global workforce of more than 98,000 as of December 31, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit

About Bixby Land Company

Bixby Land Company is a leading commercial real estate owner, operator, and investment manager with over $1.5 billion of assets under management. The company develops and invests in industrial, office and R&D properties throughout the United States. For 125 years, Bixby Land Company has been committed to adding value for its shareholders and investors. To learn more, visit

About Fundrise

Fundrise is America’s largest direct-to-investor real estate investment platform. Since 2012, their mission has been to use technology to build a better financial system for the individual. Fundrise makes it easier and more efficient than ever for anyone to invest in institutional-quality private real estate – all at the touch of a button. To date, Fundrise has transacted approximately $7 billion worth of real estate, and currently manages approximately $2.4 billion in equity, on behalf of our more than 210,000 active investors and 1.2 million active users. You can learn more about the future of real estate investing at