Trammell Crow Sells 850K SF Wayfair Distribution Center Near Atlanta
An online retailer's Metro Atlanta distribution hub has new a owner. Glendale-based American Realty Advisors has purchased King Mill Distribution Center, a nearly 850K SF cross-dock distribution facility in McDonough, for an undisclosed sum from Trammell Crow.
The project, completed in 2016, is leased to CastleGate Logistics, a third-party logistics firm owned by online home goods seller Wayfair.com, which distributes its products from the facility. CBRE's Frank Fallon, Chris Riley and John Farrell brokered the sale.
For Amercian Realty Advisors, other than a guarantee from Wayfair.com on its tenancy at the facility, the property is also a waypoint between Atlanta and the Port of Savannah, ARA senior director David Willett wrote in an email.
Colliers International predicted in a recent report that Atlanta's industrial market will continue to attract elevated investor interest. Last year, some $288M in warehouses traded hands, even as developers kicked off new spec supply, according to Colliers.
Shreveport-based Sealy & Co. also just made a $30M bet on the Atlanta industrial market, buying Perimeter East Industrial Park, an eight-building, 775K SF campus off Interstate 285 in DeKalb County from High Street Realty. The property is fully leased. Colliers International's Dennis Mitchell and Matt Wirth brokered the sale.