Ackerman Beefs Up Its Atlanta Industrial Holdings
Atlanta-based Ackerman & Co. is continuing its push into the industrial scene.
The firm purchased Westgate Business Park, a three-building, 275k SF industrial portfolio off Westgate Drive, in an off-market deal from Clarion Partners for $7.55M, or about $27/SF. Cushman & Wakefield's Stewart Calhoun and Casey Masters brokered the sale.
“The I-20W/Fulton Industrial submarket continues to be a top performer with low vacancy and steady, quarter-over-quarter average rental rate growth,” Ackerman president Kris Miller said.
Ackerman has been focused on expanding its shallow-bay and bulk industrial holdings since its headline-making buy of the 4M SF Pattillo Industrial Real Estate legacy portfolio in Stone Mountain at the tail end of 2015. The firm is also developing a 1M SF spec distribution center in Braselton off Interstate 85.