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Highwoods Continues ATL Exit

Highwoods Continues ATL Exit

As Highwoods Properties says adios to its Atlanta  industrial portfolio, a couple of industrial investors were happy to take the reins. (Will it be awkward when Highwoods sees them at a party with another investor on their arm?)

Peachtree Industrial property2
Huntington Industrial Partners—cofounded recently by commercial real estate vet Lathan Allen—picked up Southside Distribution Center, a two-building 191k SF complex off Southside Industrial Pkwy for  $4.78M. (You don't wanna know what we had to do to get this pic.) And then Hailey Realty has picked up  five buildings in Peachtree Corners, including 6348 and 6438 Dawson Blvd, 6576 and 6586 Interstate 85 Court and 6353 Warren Dr, sources say. Together, the Norcross facilities traded for  nearly $5M.  Colliers International's Dennis Mitchell, Matt Wirth,  and  Lee Cardwell brokered the sales.
bacchetta
Highwoods' Jim Bacchetta was unavailable for comment about the sale. But company execs previously disclosed that Highwoods would be  exiting the Atlanta industrial market to focus on office here. And sources tell us that Highwoods has a slew of other properties under contract, including Newpoint Place, Corporate Lakes and Tradeport in Hapeville, to an undisclosed party.