2650 Button Gwinnett Dr, Atlanta, GA, 30340-1574, US

2650 Button Gwinnett

Asset Description

Jones Lang LaSalle America, Inc. (“JLL”) has been exclusively retained by ownership as the sales representative for 2650 Button Gwinnett, also known as “the Property” – a light industrial warehouse and distribution center totaling 212,000 square feet located in the sought-after Doraville micro market within Atlanta’s premier Northeast submarket.

The Property caters to a variety of tenant requirements due to its multi-tenant functionality. It is 100% leased on a long-term basis to two well-established tenants, UPS (NYSE: UPS | S&P: A- | Moody’s: A2) and EPI Breads, who have invested significantly into the asset. The weighted average lease term (WALT) is 14.1 years, and in-place rents currently sit 35% below market, giving investors guaranteed stable cash flow, with extremely attractive mark-to-market potential in the future.

With its strategic positioning within the Doraville micro market, and its high-quality and embedded tenancy, 2650 Button Gwinnett offers investors long-term cash flow with significant future upside due to the below replacement cost opportunity in one of Atlanta’s top performing infill markets.

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Attributes

Building area gross

19,695 m²

Occupancy

100%

Year built

1987

WALT

14.1 years

Media

Investment Highlights

INSTITUTIONAL QUALITY

Tilt-wall construction
Rear-load configuration
135′ full concrete truck court
27′ - 31′ clear height
MR-24 metal standing seam roof

EXCEPTIONAL NORTHEAST INFILL LOCATION

450 ft. from Buford Hwy.
1.3 miles to Peachtree Industrial Blvd.
2.2 miles from I-285
2.3 miles from I-85

HIGH-QUALITY TENANANCY WITH STRONG FINANCIALS

100% occupied by two high-quality and established users – UPS and Epi Breads
Combined WALT of 14.1 years
35% below market rents with a weighted average in-place rent of $5.75 PSF

SUPERIOR NORTHEAST INFILL MARKET FUNDAMENTALS

Doraville micro market - one of Atlanta’s strongest and most active industrial micro markets, this fully amenitized micro market continues to show positive economic trends including lower than average vacancy rates and positive net absorption.