CBRE Secures Financing for Acquisition of Industrial Portfolio near Hartsfield-Jackson Atlanta International Airport
August 14, 2023
CBRE has secured $15.4 million in acquisition financing for the purchase of a two-building, 166,687-sq.-ft. warehouse portfolio located near Hartsfield-Jackson Atlanta International Airport.
Brian Linnihan, Mike Ryan, Richard Henry and JP Cordeiro with CBRE Capital Markets’ Debt & Structured Finance in Atlanta represented the buyer, LRC Properties, in the deal. The acquisition loan was secured through Timbercreek Capital.
“This portfolio presented a huge opportunity for the sponsor to acquire vacant warehouse space within one of Atlanta’s most in-demand submarkets,” said Mr. Linnihan, Vice Chairman with CBRE. “We’re proud to have connected our client, LRC Properties, with a great lender in Timbercreek Capital.”
The larger of the two warehouses is located at 4601 Welcome All Road in Atlanta. Measuring 125,723 sq. ft., the property was built in 1980 and is directly connected to rail service. It features 14 front-loaded dock high doors, 20-foot clear heights and approximately 5,200 sq. ft. of office space.
The smaller warehouse, located at 5066 Charbett Drive, measures 40,934 sq. ft. and is also vacant. Situated on 2.3 acres, the building includes 30-foot clear heights, a deep truck court, six dock doors and office space. Both properties sit within a few miles of the Interstate 85, I-285 interchange and Hartsfield-Jackson Atlanta International Airport. LRC’s business plan is to renovate and upgrade the properties to attract tenants in the robust Airport submarket.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2022 revenue). The company has approximately 115,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.