There's a reason WPM Commercial is focused on intown industrial: They're just not making any more of it. That's part of the investment strategy behind WPM's Price Muir. We caught up with Price yesterday about his recent acquisition, 3658 Atlanta Industrial Dr, a 120k SF warehouse off I-20 West (reported here), and what he's looking for in general. "My strategy is Intown, like I've always done," he says. (Stay where you know, no reason to wear out the GPS.) "On a larger scale, I'm bullish on industrial across the metro area."
With 3658 Atlanta Industrial, Price says one of the reasons he targeted that asset because of its proximity to Charlie Brown Field airport and Majestic's planned massive industrial complex that could--maybe--someday soon be home to the 1M-plus SF Kroger distribution center (see our story here). To him, the supply of Intown industrial isn't being added to, and in some cases, when the housing market returns, the Chattahoochee industrial area could be converted to homes and residential, making whatever industrial properties around the area even more in demand.
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