JLL closes $71.25M sale of 18-building business park

The property is in one of Atlanta’s strongest and most active industrial submarkets

November 20, 2019

ATLANTA, November 20, 2019 – JLL announced today that it closed the $71.25 million sale of Gwinnett Park, a 981,720-square-foot light industrial and business park portfolio spread across 18 buildings in the Atlanta-area community of Norcross, Georgia.

JLL marketed the assets on behalf of the seller, Irvine, California-based Sperry Equities. Dogwood Industrial Properties (Dogwood), a platform that acquires, owns and operates high-quality, infill multi-tenant industrial assets in strategic metropolitan markets, purchased the portfolio. Dogwood is wholly owned by TPG Real Estate Partners, the dedicated real estate equity investment platform of global alternative asset firm TPG.

Gwinnett Park’s buildings were constructed between 1973 and 1997.The buildings feature 18- to 22-foot clear heights, a combination of shallow bay suites, a mix of grade-level and dock-high doors, high parking counts and varied office finishes. The property is approximately 87% leased to more than 55 tenants in various sectors, including manufacturing, healthcare, logistics, education, consumer goods, marketing, financial services, engineering and commercial and business services. Gwinnett Park is in the Northeast Industrial submarket – one of Atlanta’s strongest and most active industrial submarkets – with direct accessibility to Interstate 85, one of city’s most traveled thoroughfares.

The JLL Capital Markets team representing the seller was led by Senior Managing Director Dennis Mitchell and Managing Directors Matt Wirth and Britton Burdette.

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.

For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: U.S. newsroom.

Deal secured by Holliday Fenoglio Fowler LP (“HFF”) prior to being acquired by JLL on July 1, 2019. Co-brokerage services provided by Jones Lang LaSalle Americas, Inc. 

About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of more than 93,000 as of September 30, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit

About Sperry Equities

Sperry Equities, LLC is a full service commercial real estate investment and management company, specializing in the repositioning of underperforming real estate throughout the nation. For over 20 years, Sperry Equities’ principals have created value and wealth by purchasing over $1.5 billion in distressed assets, generating annual returns of 20% to 30%. Sperry Equities’ business model is centered on the belief that its clients’ interests come first. Sperry Equities doesn’t make money until they do. Sperry Equities offers a rare blend of hands-on real estate experience with sophisticated capital market knowledge. It’s the company’s aggressive leasing and dedicated property management that builds its portfolio’s value and its investor’s wealth.

About TPG Real Estate

TPG Real Estate ("TPGRE") is the real estate platform of TPG, a leading global alternative asset firm with more than $111 billion of assets under management and 17 offices around the world. TPGRE includes TPG Real Estate Partners (“TREP”), its equity investment platform, and TPG Real Estate Finance Trust (NYSE: “TRTX”), its debt origination and acquisition platform. TREP focuses primarily on investments in real estate-rich companies, property portfolios, and select single assets located in North America and Europe. TRTX originates and acquires senior real estate loans across a broad spectrum of asset classes in North America. TPGRE currently manages approximately $11.9 billion in assets across both platforms. For more information, please visit