JLL Capital Markets arranged the sale of two industrial assets in Atlanta, GA

ATLANTA, Oct. 23, 2024 –  JLL Capital Markets announced today the sale of 48-50 Best Friend Road and 1056 Personal Place, two infill light industrial properties located in Atlanta’s premier Northeast and I-85 South/Airport submarkets.

JLL worked on behalf of the seller in the sale to Faropoint.

The assets, totaling 253,545 square feet, are fully occupied by long-standing tenants: MWD Logistics, Inc. at the Personal Place property and Currey & Company, Inc. at the Best Friend Road location. Both companies are well-established in metro Atlanta and their respective sectors, with over 30 years in business and continuing expansion throughout the Southeast.

The 90,012-square-foot Personal Place facility in Morrow, Georgia features a rear-load configuration, 22-foot clear heights and a 100-foot truck court. The larger Best Friend Road property in Doraville, Georgia, spanning 163,524 square feet, boasts cross-dock load configuration, 30-foot clear heights, a 120-foot truck court with a 50-foot concrete apron and six rail doors with expansion potential.

Both of the properties are located within densely populated submarkets that are seeing unprecedented demand for light industrial product, as well as strong leasing velocity and rent growth for buildings of these sizes. Their locations offer immediate connectivity to the Atlanta metro area and Hartsfield-Jackson International Airport via multiple major thoroughfares.

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

“These properties represent a unique opportunity in Atlanta's urban market,” said Freeman. “Situated in high-barrier-to-entry locations with limited competition, they are well-positioned to capitalize on the area's supply shortage and strong demand for quality industrial space."

Dave Zealear, Acquisitions Director at Faropoint, commented on the acquisition: "These two fully leased properties in Atlanta's Northeast and I-85 South/Airport submarkets perfectly align with our value fund strategy, which focuses on acquiring well-located, infill industrial assets in high-growth markets. We're excited about the opportunity to enhance these assets and capitalize on the robust demand for industrial space in these submarkets, further expanding our footprint in the Atlanta market."

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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Faropoint is a tech-enabled, vertically integrated real estate investment manager specializing in urban logistics within the US industrial sector. With approximately 120 employees, Faropoint leverages data and deep market relationships to address inefficiencies in the industrial real estate market. The firm operates in 16 key US markets, securing off-market deals through its extensive broker network and strong local presence. Since its inception in 2012, Faropoint has acquired over 400 warehouses, representing more than $3 billion in industrial real estate assets. For more information, visit Faropoint.com.