$157.8M sale of industrial portfolio in Florida, Georgia and Texas closes

ATLANTA – July 5, 2022 – JLL Capital Markets announced today that it has closed the $157.8 million sale of a five-property industrial portfolio consisting of 12 buildings located in Georgia, Florida and Texas. The portfolio totals 1.27 million square feet.

JLL marketed the property on behalf of the seller, Summit Real Estate Group. Taurus Investment Holdings, LLC acquired the portfolio.

The industrial portfolio consists of:

• Creekside Distribution Center
  • 2110 Lawrence Ave., East Point, Georgia  
• Peachtree Nortech
  • 5824 Peachtree Industrial Blvd., Peachtree Corners, Georgia
  • 5834 Peachtree Industrial Blvd., Peachtree Corners, Georgia
  • 5875 Peachtree Industrial Blvd., Peachtree Corners, Georgia
  • 5885 Peachtree Industrial Blvd., Peachtree Corners, Georgia
• Maggie Boulevard
  • 3470 Maggie Blvd., Orlando, Florida
• West Bay Corporate Center and Metropointe Commerce Center
  • 9700 16th St., North St. Petersburg, Florida
  • 9843 18th St., North St. Petersburg, Florida
  • 9400 International Court, North St. Petersburg, Florida
  • 9501 International Court, North St. Petersburg, Florida
  • 9701 International Court, North St. Petersburg, Florida
• Corporate Center Fannin I
  • 10001 Fannin St. Building I, Houston, Texas

The assets comprise Class A and B distribution centers and shallow bay properties. Occupancy across the portfolio is 98% with space leased to a variety of high-quality public and private companies, including Raytheon, Iron Mountain, DAP Americas and more.

The JLL Capital Markets team representing the seller was led by Dennis Mitchell, Trent Agnew and Louis Castillo.

“The JLL team saw strong demand for this core/core plus industrial offering due to the ability to acquire critical mass in infill locations across Atlanta, Houston and Central Florida. The portfolio had a unique profile due to its 2.7-year WALT on existing assets, allowing for a short-term mark-to-market opportunity with committed tenancy,” Mitchell said. “Companies of all sizes are competing for locations that provide exceptional connectivity to major logistical thoroughfares. As demand for this product type increases, it continues to drive market occupancy and raises rental rates.”

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 on JLL, please visit our newsroom.