A New York investment firm purchased a Smyrna industrial facility that is home to consumer products giant 3M.
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LM Real Estate Partners purchased 5000 Highlands Parkway, a 154K SF shallow-bay industrial property, from Berkeley Partners for $27M, a more than 40% increase from its 2021 purchase price, according to sales tax records in the Georgia Superior Court Clerks’ Cooperative Authority database. BankUnited also provided a nearly $20M loan for its purchase that matures in 2030, according to records.
The Atlanta Business Chronicle first reported on the sale, adding that LM obtained the facility — which includes Lectra North America and StreamLabs Water as tenants — at a 7% cap rate.
Berkeley Partners purchased 5000 Highlands Parkway in 2021 for $18.75M, according to Cobb County property records.
The latest sale comes as investors show renewed interest in Metro Atlanta industrial properties.
About $2.3B in warehouse and distribution properties traded hands in the first part of the year, up 83% from the first half of 2025, Partners Real Estate reported. More than $1B in industrial properties sold during the second quarter, with an average price of nearly $131 per SF, or up 3% from the same quarter last year.
Ares Real Estate Income Trust made the largest transaction of the quarter, buying the four-building Horizon Pointe Business Center in Suwanee for nearly $188M from Clarion Partners, according to the ABC.
LM also bought the 413K SF Windward Chase distribution center in Alpharetta for $69M last year and Hungryroot’s cold storage facility at 109 Thompson Road in Hiram for $27.5M earlier this year, according to the ABC.
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