Childress Klein Sells Alpharetta Warehouses To Dallas Investor
Dalfen Industrial is making further inroads into Metro Atlanta's warehouse market.
The Dallas-based industrial investor purchased Shiloh Crossing in Forsyth County from Childress Klein for an undisclosed sum. The distribution buildings — at 6180, 6185 and 6190 Shiloh Crossing in Alpharetta — total 283K SF. Dalfen was represented by Industry Real Estate Partners founding principal Stephen Pond.
While Forsyth County tax assessor records do not yet indicate the sale, the total value placed by the county on the three buildings this year totaled more than $20M, according to records.
The properties are 2 miles from Georgia 400 and the newly developed Halcyon mixed-use project.
“The property’s functionality, its positioning within the market, and the area’s demographics make it a coveted fulfillment location for those looking to service the population in an e-commerce capacity,” Dalfen President and Chief Investment Officer Sean Dalfen said in a press release.
Shiloh Crossing is fully leased to ABC Supply and Ericsson, according to a Dalfen release.
Metro Atlanta's industrial market is going gangbusters. Tenants absorbed 10.82M SF at Metro Atlanta distribution centers and warehouses during the first three months of the year, the highest rate in the nation, according to Colliers.
Investment sales activity also has been robust in Metro Atlanta, with more than $760M in industrial properties trading hands during the first quarter, a 20% increase from the same period in 2020, according to Avison Young. In the largest single sale thus far this year, Blackstone purchased a 10-building, 2.3M SF portfolio from Majestic Realty Co. and Northwestern Mutual Life Insurance Co. for $225.2M, Avison Young reported.
The purchase comes four months after Dalfen purchased the Gwinnett Logistics Center off Georgia 316 and brings its total Georgia portfolio to nearly 2M SF.
