DALLAS & ATLANTA--(BUSINESS WIRE)--Crow Holdings announced today that its industrial development company, Crow Holdings Industrial (CHI), has completed the sale of a 234,000-square-foot, Class-A distribution building in Atlanta to TA Realty. Terms of the transaction were not disclosed.
CHI completed construction on South Fulton Logistics Center (SFLC) in April 2019. The building is located in the heart of Atlanta’s I-85 South submarket, providing desirable access to Atlanta’s main traffic arteries and Hartsfield-Jackson International Airport. SFLC provides modern, rear-load distribution space featuring 32-foot clear height, ample trailer and employee parking with multiple points of ingress and egress. The property boasts competitive operating expenses due to a tax abatement with Fulton County. The building is 68% leased to Greenball Corporation. This sale represents CHI’s sixth disposition in the Atlanta market in less than two years. Since 2017, CHI has developed or has currently under construction 4.4 million square feet of industrial property across 10 projects in the Atlanta market.
“The Atlanta market for industrial has seen incredible demand. Our experienced, local team was able to successfully complete this transaction given South Fulton Logistics Center’s recent, state-of-the-art construction and ideal location with superior access to major transportation routes and Hartsfield-Jackson Airport,” said John Bateman, Managing Director at CHI.
“This sale demonstrates the attractiveness of CHI’s longstanding track record of developing high-quality assets in key industrial markets in the U.S., and we continue to see substantial opportunity to grow our presence in the Southeast region of the U.S.,” said Ken Valach, Chief Executive Officer of CHI.
Since 1948, Crow Holdings has been investing in the industrial and logistics sector, and has grown to become a market leader across both its institutional real estate asset management business (Crow Holdings Capital) and its industrial development business (Crow Holdings Industrial). CHI specializes in distribution, fulfillment and last mile properties in key logistics markets throughout the United States. Over the past 22 years, Crow Holdings operating companies have developed or owned 107 industrial properties with an additional 46 currently in development, representing over 71 million square feet of industrial space across the U.S.
About Crow Holdings
Crow Holdings is a privately owned real estate investment and development firm headquartered in Dallas, Texas. With a 70-year operating history and a strong track record of performance and innovation, the Company has extensive industry reach and access through its businesses’ 14 U.S. offices. The investment management platform consists of Crow Holdings Capital (CHC) and Crow Holdings Partners (CHP). CHC manages $10.6B of real estate assets through its value-add and specialized funds invested across property types in the United States. CHP is focused on investing in and managing developments sponsored by Trammell Crow Residential and Crow Holdings Industrial through separate accounts, programmatic ventures and funds. The development platform consists of Trammell Crow Residential, Crow Holdings Industrial and Crow Holdings Office, and develops multifamily, industrial and office properties. The founding principles of partnership, collaboration and alignment of interests remain central to the firm’s mission today. For more information, please visit www.crowholdings.com.
