Jones Lang LaSalle Incorporated : JLL Capital Markets completes sale and financing of 12-building industrial park

ATLANTA, June 11, 2024 -JLL Capital Markets announced today that it has closed the sale of and arranged financing for Gwinnett Park, a 12-building light industrial park totaling 753,737 square feet in Atlanta, Georgia.

JLL represented the seller, Dogwood Industrial Properties, and procured the buyer, ATCAP Partners, LLC, an institutional industrial buyer. Additionally, JLL worked on behalf of ATCAP, to secure the five-year, fixed-rate acquisition financing through Empower Investments.

Gwinnett Park was built in phases between 1973 and 1986 and is 94% leased to 36 tenants with a weighted average lease term of 2.6 years. The property has been institutionally maintained and offers dock-high rear load configurations, 18-22-foot clear heights, 90-109-foot truck court depths and a 29% office finish.

The 48.02-acre Gwinnett Park is positioned immediately adjacent to Interstate 85 in Atlanta's premier Northeast submarket. In addition to I-85, the property is close to Atlanta's other major logistical thoroughfares, including Buford Highway, Highway 316 and Interstate 285, allowing for connectivity throughout the Atlanta area and the broader Southeast region.

Over the last five years, the infill portion of the Northeast submarket, where Gwinnett Park is located, has maintained a vacancy rate on average 260 basis points lower than the broader Northeast submarket.

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

JLL's Debt Advisory team representing the borrower was led by Senior Director Bobby Norwood and Senior Managing Director Brian Carlton.

"Gwinnett Park offered a tremendous opportunity for an investor to make their entry into the booming Northeast submarket of Atlanta with a stable day-one cash flow and phenomenal mark-to-market upside," Mitchell said.

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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