Atlanta industrial portfolio sold to COFE Properties

ATLANTA, Nov. 1, 2024 – JLL Capital Markets announced today the sale of Whittier Mill and Cobblestone, a two-property industrial portfolio totaling 179,268 square feet, located within the Atlanta, Georgia MSA.

JLL represented the seller, CapRidge Partners, LLC, in the transaction. COFE Properties, LLC has acquired the portfolio.

Cobblestone Business Park is a 97,859-square-foot two-building industrial portfolio located at 100 and 110 Londonderry Court in Woodstock, Georgia. The portfolio is situated approximately three miles from I-575 and is well positioned in the Northwest submarket of Atlanta in the flourishing city of Woodstock, one of the largest labor markets in Atlanta. Tenants at the building are high-quality local companies that provide critical services to the community, offering stable in-place cash flows with strong upside for future leasing, as many rents are below market.

Whittier Mill consists of five buildings totaling 81,409 square feet at 2124, 2130, 2132, 2134 and 2140 James Jackson Parkway NW in Atlanta. Located minutes from downtown Atlanta and within a mile of I-285, it offers access to Buckhead, Midtown and northwest Atlanta suburbs. This infill location is surrounded by a strong amenity and consumer base that fills a niche of highly desired yet difficult-to-find product type for a wide variety of tenants.

The JLL Investment Sales and Advisory team was led by Senior Managing Directors Dennis Mitchell, Matt Wirth and Britton Burdette and Director Jim Freeman.

"This portfolio provides tenants with crucial last-mile delivery and operational positioning within greater Atlanta," Mitchell said. "Its access to Atlanta's fastest-growing neighborhoods and business centers, combined with proximity to dense, high-income population centers, has driven demand for suburban infill industrial product to an all-time high."

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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CapRidge Partners, based in Austin, Texas, is a fully integrated investment management and operating company focused on value investing in growth markets, including Atlanta. Their strategy is to acquire well-located assets, below replacement cost, that offer enhanced returns to investors through a hands-on approach that drives NOI. Since 2012, CapRidge has acquired 81 buildings and is currently placing capital from its fourth discretionary fund.

Founded in 2002, COFE Properties (“COFE”) is a privately owned real estate investment firm headquartered in Miami, Florida with regional offices in Dallas, Houston, and Atlanta. COFE has a proven track record of acquiring well located, multi-tenant assets and generating attractive returns. We are committed to providing enhanced returns to our investors by acquiring income producing properties located throughout urban markets and implementing a “hands-on” management approach, which allows for the efficient repositioning and institutionalization of our properties. COFE’s capabilities include investment, acquisition, and asset management.