Declaration Logistics Center_Immobilie zu verkaufen
Declaration Logistics Center_Immobilie zu verkaufen
400 & 559 Jerry Steele Lane, McDonough, Georgia 30248

Declaration Logistics Center

Portfoliobeschreibung

Jones Lang LaSalle America, Inc. (“JLL”) has been exclusively retained by ownership as the sales representative for Declaration Logistics Center – Bldgs. II & III, also known as “the Properties, the Portfolio” – two (2) single-load distribution facilities totaling 542,031 square feet located in McDonough’s industrial pocket within Atlanta’s South I-75 submarket. The deal features two recently constructed, class A+ industrial buildings with 32’-36’ clear heights, 185’ truck courts, and 45-mil TPO roofs with 15-year warranties. 100% leased to 3 tenants with a weighted average lease term (WALT) of 3.4 years and annual escalations of 4.0%, the Properties cater to a wide range of tenant requirements due to their multitenant functionality. These state-of-the-art industrial facilities are strategically positioned along Interstate 75, one of Atlanta’s major logistical thoroughfares, and provide direct access to the Atlanta MSA, the Port of Savannah, and nearby Florida markets.


Located within the Liberty Industrial Park in McDonough, Georgia, Declaration Logistics Center provides investors with the ability to acquire two (2) fully stabilized Class A assets in one of Atlanta’s most sought-after corridors. The McDonough industrial market is one of Atlanta’s top growth markets and is crucial for servicing both port-related users and regional distribution in the Southeast. Its core location is home to a considerable amount of institutional ownership and notable namebrand tenancy. High barriers to entry, limited land for development, and access to a high-quality, growing labor pool have created strong tenant and investor demand in the market. The Properties lie within the South I-75 submarket which currently boasts the lowest vacancy rate amongst all major Atlanta submarkets as of Q2 2024 – 6.0%, coming in 220bps lower than the overall Atlanta market vacancy rate of 8.2%. Q2 2024 net absorption for the submarket was 5.8MSF, representing 74% of total absorption in the Atlanta market and more than 6x that of any other submarket.

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Eigenschaften

Gebäudefläche brutto
50.356 m²
Anzahl der Gebäude
2
Vermietungsstand
100 %
WALT
3.4 Jahre
Declaration Logistics Center (2 Objekte)
Declaration Logistics Center (2 Objekte)

Medien

Investment-Highlights

Strategic location within McDonough micro market

  • Multiple access points to I-75
  • Future Bethlehem Road interchange to offer secondary access to I-75
  • Institutional ownership and notable tenancy
  • Tenants in the immediate vicinity include Home Depot, XPO Logistics, Geodis, Ford, Mazda, Georgia Pacific, LG, Nestle, Ryder, & GXO
  • High barriers to entry and limited land for development
  • Access to high quality, growing labor force
  • Labor force of ~250,000 within 30-minute drive
  • McDonough makes up 49% of I-75 South submarket inventory
  • Atlanta’s best access to the Port of Savannah
  • 220 miles from Savannah – submarket of choice for port-related users
  • Superior connectivity to dense population center of the Florida markets
  • Quick access to Atlanta’s major thoroughfares
  • 1.7 miles to I-75
  • 13.6 miles to I-675
  • 23.1 miles to I-285
  • 29.9 miles to I-85
  • Henry County population growth of 1.8% year-over-year
  • 2.6% year-over-year job growth


Institutional quality, Class A+ construction

  • Two (2) building logistics portfolio totaling 542,031 SF
  • Newly constructed, Class A+ design
  • Tilt-wall construction
  • Rear-load / front-load configurations
  • 32′ – 36′ clear heights
  • 185′ truck courts (fully concrete / 60’ concrete apron)
  • 45-mil TPO roofs w/ 15-year warranties
  • Market appropriate multi-tenant functionality
  • 250′ – 350′ building depths
  • ESFR fire sprinklers
  • LED warehouse lights
  • Ample auto and trailer parking


Financial highlights

  • 100% leased to 3 tenants w/ 3.4 years WALT
  • 4% annual escalations on all leases
  • Bldg. II – 210,560 SF
  • 50% leased to Regent Cabinets w/ 3.9 years of term
  • 50% leased to ACI Logistix w/ 4.8 years of term
  • Bldg. III – 331,471 SF
  • 100% leased to National Distribution Centers w/ 2.7 years term (61% of Portfolio)
  • Parent company: NFI (2023 Rev: $2.9B)
  • NNN leases with limited landlord responsibilities


South I-75 industrial fundamentals

  • Lowest vacancy rate amongst major Atlanta submarkets – 6.0%
  • 220bps lower than overall Atlanta vacancy rate of 8.2%
  • McDonough vacancy rate even lower at 5.1%
  • Q2 2024 net absorption of 5.8MSF, representing 74% of Atlanta’s total absorption
  • Q2 2024 net absorption represents 7.5% of submarket inventory
  • #1 submarket in net absorption for both Q1 and Q2 2024
Declaration Logistics Center 4_Immobilie zu verkaufen
Declaration Logistics Center 4_Immobilie zu verkaufen

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Zuletzt aktualisiert
24. Okt. 2024