169K SF industrial facility in metro Atlanta trades hands

ATLANTA, Dec. 5, 2024 –  JLL Capital Markets announced today the sale and leaseback of 3059 Premiere Parkway, a 169,252-square-foot industrial facility in Duluth, Georgia, part of metro Atlanta's Northeast submarket.

JLL, in partnership with Hailey Realty Company, represented the seller in the sale to Foxfield.

The property is fully leased to a technology company, which will occupy the space under a new six-year, triple-net lease. This sale-leaseback arrangement allows the tenant to maintain its operations at the strategic location while unlocking capital from the real estate asset.

Located at 3059 Premiere Parkway, the property features a front-load configuration with 24-foot clear heights, seven dock-high doors, two drive-in doors and ample parking.

The facility is situated on 12.33 acres in a prime infill location, just 1.5 miles from Interstate 85 and two miles from Highway 23, providing excellent connectivity throughout the Atlanta metro area. This strategic positioning provides excellent connectivity throughout the Atlanta metro area and easy access to major economic drivers such as Gas South Arena, Sugarloaf Mills and TPC Sugarloaf.

“We are excited to add 3059 Premiere Parkway to our portfolio,” said Shawn Hawthorne, Partner at Foxfield. “The property’s strategic location and connectivity to major highways and economic hubs in metro Atlanta make it a highly valuable asset. This acquisition marks our 14th for this fund and further strengthens our expansion in the Southeast, as we continue to focus on high-quality industrial and R&D assets.”

The JLL Investment Sales and Advisory team was led by Senior Managing Directors Dennis Mitchell, Matt Wirth and Britton Burdette and Director Jim Freeman. Additionally, the Hailey Realty team was led by Howard Boyd and John Crawford.

“This transaction highlights the continued appeal of the Atlanta market for institutional investors looking for stable, long-term cash flow opportunities backed by high-quality tenants,” commented Mitchell. “We are thrilled to have partnered with Hailey to achieve a positive outcome for the tenant and Foxfield on this acquisition and are confident this property will continue to perform strongly."

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.

For more news, videos and research resources, please visit JLL’s newsroom. 

Foxfield is a real estate investment and development company that focuses on industrial and residential markets. Headquartered in Boston, with offices in Atlanta, New York, and Philadelphia, Foxfield searches for unique investment opportunities throughout the East Coast. To date, Foxfield has transacted on $1.5 billion in acquisitions and currently has $1.0 billion in the development pipeline with more than 7 million SF in assets under management or development. Opening its doors in 2011, Foxfield has established a successful track record investing across asset classes and risk spectrums. 

To learn more, visit the Foxfield website and LinkedIn page.

Launched in October 2020, the Foxfield Open-End Fund is poised to perform well in the current economic environment through targeted investment in fully-leased Class A and B industrial warehouse and flex/R&D properties. In the Northeast, shrinking urban land supply, alongside an increase in same-day shipping, e-commerce, and supply chain onshoring has dramatically increased the demand for industrial space. The Fund’s mix of long-term leases and below-market debt at well-located industrial properties lends itself well to weather economic uncertainty.

Founded in 1969, Hailey Realty is a privately held, full-service commercial real estate company headquartered in Atlanta with a reach that extends far beyond the metro area. Serving long-term clients across the state of Georgia, our team is comprised of experts in the acquisition, disposition, leasing, and management of industrial and office properties, and all categories of diverse land sales.