Westcore Adds Second Industrial Property to its Atlanta Portfolio
Westcore, a leading industrial real estate acquisition, development and asset management firm, has acquired Braselton Crossroads, a three-building, 460,000-square-foot industrial campus in Braselton, Georgia. Westcore purchased the property from Atlanta-based Ackerman & Company for an undisclosed sum.
The Class A, new-construction Braselton Crossroads property is comprised of three warehouses of approximately 150,000 square feet.
The property features 21% site coverage, 132 dock-high doors and six grade-level doors. It is located approximately 50 miles northeast of Atlanta, adjacent to Interstate 85, one of Atlanta’s most active distribution thoroughfares, and to State Route 211.
“The I-85 corridor is one of Atlanta’s premier industrial markets as evidenced by tenant demand,” said Westcore Managing Director Peter Mette. “Braselton Crossroads is a great addition to our portfolio for a number of reasons, including the location, the access and the flexible nature of the buildings that can accommodate a wide range of tenant size.”
Existing Braselton Crossroads tenants include Children’s Healthcare of Atlanta, Airflotek and Simple Automation.
“We expect tenant demand will remain strong for Braselton Crossroads,” said Mette. “In terms of net absorption, the northeast I-85 corridor is Atlanta’s largest and top performing submarket, and Braselton Crossroads still has leasable space available.”
With this purchase, Westcore’s combined industrial assets in the greater Atlanta area total approximately 805,000 square feet.
Casey Masters of Cushman & Wakefield represented the seller in this transaction, while Westcore represented itself.
Founded in 2000, Westcore is a fully integrated industrial real estate investment company with institutional scale and capabilities that operates with speed, agility and adaptability. Since its founding, Westcore has acquired, managed and sold more than $10 billion in assets, comprised of more than 1,000 buildings and totaling over 100 million square feet. In addition to its U.S. headquarters in San Diego, Westcore has regional offices in Los Angeles, Oakland and Dallas.