A Southern California investor has acquired a package of three newly constructed net-leased industrial buildings in the Sun Belt, two of which are leased to online retail giant Amazon.
Preylock Holdings of Los Angeles paid $166.7 million, or nearly $76 per square foot, for the 2.2 million-square-foot portfolio. The portfolio includes Crossroads Business Center, a 1 million-square-foot distribution center at 5705 Campbellton Fairburn Road in Union City, Georgia, near Atlanta.
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873,800 SF Core5 Logistics Center at Shugart Farms Purchased by Private Investor
ATLANTA, June 19, 2017 – Atlanta-based Core5 Industrial Partners announced today the recent sale of their initial development in Metro Atlanta, 873,800-square-foot Core5 Logistics Center at Shugart Farms, to a private institutional investor. The high cube logistic facility completed construction in early 2017 and is fully leased on a long-term basis to The Duracell Company, a wholly-owned subsidiary of Berkshire Hathaway.
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