Duracell Powers One Of The Priciest Deals Ever For An Atlanta Warehouse
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Core5 Industrial Partners' Duracell-occupied warehouse has enough juice in it to power one of Atlanta's biggest warehouse sales ever.
The Atlanta-based industrial developer sold its Core5 Logistics Center at Shugart Farms for $62M to an undisclosed buyer. At that price, the 874K SF warehouse not only is the highest price paid so far this year for an industrial property, it is also the fourth-highest price ever paid in Metro Atlanta for one, according to CoStar data.
The sale follows behind USAA Real Estate's 2007 purchase of SouthPort Logistics Center, a 1.6M SF warehouse off Westridge Parkway in McDonough sold by Oakmont Industrial Group for $64.25M, and the Cobb County Development Authority's 2006 purchase of 1675 Airport Road for $70M from FedEx. The top Atlanta sale occurred last year when Deutsche Bank AG purchased 1000 Logistics Center Drive, a more than 1M SF distribution center in Fairburn, from TPA Group for $77.25M, according to CoStar.
Core5 inked a deal at the Fairburn facility in January with Duracell to consolidate its packaging and shipping functions from other states.