JLL Capital Markets completes sale of prime Suwanee warehouse facility
Dermody Properties acquires a 61K SF industrial asset in Atlanta’s Northeast submarket
ATLANTA, Oct. 9, 2024 – JLL Capital Markets announced today the sale of 3851 Lakefield Drive, a 61,000-square-foot warehouse and manufacturing facility located in Suwanee, Georgia, in close proximity to the Johns Creek city limits.
JLL represented the seller, Florida Food Products, in the sale to Dermody Properties. This property was previously utilized by Florida Food Products, a leader in clean ingredient production, and was sold as a vacant asset.
The property features a 20-foot clear height, four dock-high doors, a drive-in door and 51 parking spaces. Additionally, it includes and adjacent parcel of approximately 10 acres of land, offering the potential for future development of a 100,000-plus-square-foot industrial building.
Situated in one of the most infill areas of Atlanta’s largest and most sought-after areas, the Northeast Atlanta submarket is home to a critical mass of institutional ownership and credit tenants drawn to the micro market's accessibility to dense high-income population centers and high-quality labor.
The JLL Investment Sales and Advisory team was led by Senior Managing Directors Matt Wirth, Dennis Mitchell and Britton Burdette along with Director Jim Freeman.
“This transaction offered a strategically positioned asset with significant upside potential from both the lease-up of the existing facility and the development opportunity in one of metro Atlanta's most sought-after locations with extremely high barriers to entry,” said Wirth. “The Northeast industrial submarket's consistent outperformance continues to attract top-tier investors and tenants, underlining the strategic value of this acquisition.”
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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About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 110,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Florida Food Products
Founded in 1954, Florida Food Products is one of the world’s largest, independent provider of natural ingredients. FFP formulates and produces innovative clean label fruit, vegetable, tea, coffee and botanical based ingredients serving the food, beverage, and health end markets. The Company’s products offer compelling alternatives to chemically derived ingredients and can enhance such things as taste, texture, shelf life, moisture, and color. The Company operates facilitates across the United States and partners with some of the most respected consumer brands, manufacturers, and food service providers. For additional information, please visit www.floridafood.com.