New, single-tenant distribution building trades in Atlanta
JLL Capital Markets closed the second sale of a core industrial facility in a new master-planned industrial park to KKR
ATLANTA, Dec. 7, 2021 – JLL Capital Markets announced today the closed sale of a new, Class A, 425,660-square-foot, single-tenant distribution building in Atlanta (McDonough), Georgia.
JLL marketed the property on behalf of the seller, PNK Group. The property was acquired by KKR’s Americas core plus real estate strategy.
Completed in 2021, the cross-dock building features a 36-foot clear height, LED lighting, ESFR fire protection, 50 loading positions, 97 trailer parking stalls and low office finish. The building is within a new 260-acre master planned industrial park which features a full slate of best-in-class amenities, including landscaped walking and biking trails; electric car charging stations; food truck courts with seating areas; modern building designs; and two points to access Interstate 75.
The asset is located within the McDonough industrial micromarket, a desirable location in the larger I-75 South submarket. This location provides easy access to Atlanta’s five major thoroughfares, allowing the tenant to reach more than three million people within a 60-minute drive and access approximately 80 percent of the U.S. population within a two-day drive. Additionally, Hartsfield-Jackson International Airport is 25 miles from the property. The Port of Savannah is approximately 200 miles from the property.
The JLL Capital Markets Investment Sales and Advisory team that represented the seller was led by Britton Burdette, Matt Wirth, Dennis Mitchell and Mitchell Townsend.
“The top-tier credit backing the lease and state-of-the-art core building design provided a vital piece that balanced the overall portfolio of which this property was a part and helped to drive buyer demand for the offering,” Burdette said.
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 sales and 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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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 $16.6 billion in 2020, operations in over 80 countries and a global workforce of more than 95,000 as of September 30, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About PNK Group
PNK Group is an international real estate developer implementing full-cycle industrial projects. The group of companies was founded in 2004. PNK Group has 37 logistics and industrial parks. PNK Group has three industrial parks in the United States: one in Atlanta, Georgia; one in Savannah, Georgia; and one in Hazleton, Pennsylvania.
Outside of the U.S., the company operates four in-house plants producing major load-bearing structural components of buildings. The company employs German cutting-edge technology of modular construction to assemble large prefabricated components and units. PNK Group builds industrial facilities conforming to international FM Global standards.