Deal Represents Record Price Per Acre in Submarket

Marietta, GA —Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, completed the sale of 1000 Loudermilk Drive NW, an industrial outdoor storage (IOS) facility in Marietta, GA. Senior Associate Davis Kelly and Vice President and Associate Director Harrison Auerbach represented the seller.

 

The property, zoned for heavy industrial, boasts approximately 80,964 square feet positioned on over 17 acres. The IOS investment is a prime last-mile distribution site featuring three warehouses and one office building, multiple docks, drive-in doors, and a large truck court space. The seller is an international investor.

 

“Originally, the property was marketed for lease; however, the buyer approached us with an above-market-value offer, which allowed our client to exchange into a long-term asset with increased cash flows,” Kelly said.

 

Matthews™ sourced the buyer through the firm’s proprietary database. The buyer plans to renovate the property and lease it to a new tenant looking for a last-mile distribution center with outdoor storage.

 

“The asset is a trophy real estate location that will fit the needs of countless users in the future due to the extensive warehousing space accommodated by outside storage,” Auerbach said. “This type of asset can’t be replicated due to the parcel size and zoning, offering an incredible opportunity to investors.”

 

For more information or to contact a Matthews™ specialized agent, please visit www.matthews.com.

 

About Matthews™

Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, holds recognition as an industry leader in investment sales, leasing, and debt and structured finance. Based out of Nashville, TN, and strategically positioned with over 600 agents and support staff in 20+ offices across the United States, Matthews™ continues to focus on expansion into new markets. For more information, please visit www.matthews.com.