4350 Peachtree Industrial Blvd._Property for Sale

4350 Peachtree Industrial Blvd, Peachtree Corners, GA, 30071-1652, US

4350 Peachtree Industrial Blvd.

Asset description

On behalf of ownership, Jones Lang LaSalle America, Inc. (“JLL”) has been retained as the exclusive sales representative for 4350 Peachtree Industrial Boulevard (“The Property”) – 342,785 square foot light industrial asset located in the heart of Norcross’ infill industrial pocket in Atlanta’s premier Northeast submarket. Situated only 0.7 miles from Buford Highway, 3.9 miles from I-85, and 8.2 miles from I-285, 4350 Peachtree Industrial Boulevard is one of the best located industrial assets in northeast Atlanta.

90.2% leased to 7 tenants with a weighted average lease term (WALT) of 3.7 years, 4350 Peachtree Industrial Boulevard’s tenant base includes diversity across various industries. The offering has average in-place rents of $6.18 and an embedded 20.8% mark-to-market opportunity.

Located in the Northeast submarket – one of Atlanta’s top industrial submarkets – and well below replacement cost, the Property offers investors a rare opportunity to own an irreplaceable light industrial asset with stable day-one cash flow and a phenomenal mark-to-market upside.

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Attributes

Building area gross

342,785 sf

Occupancy

90%

WALT

3.7 years

Tenants

Media

Investment highlights

SUBURBAN INFILL PERFORMANCE AND EXCEPTIONAL MARKET FUNDAMENTALS

Over the last five (5) years, the infill portion of the Northeast submarket, home to 4350 Peachtree Industrial Blvd., has maintained a vacancy rate on average 370 basis points lower than the broader NE submarket
Scarcity of land limits infill construction
The Northeast submarket delivered 4.5M SF in 2024 1H and just 1.98% of this total (90,000 SF) was delivered in the Norcross infill portion of the submarket
At 2024 Q2 end a total of 3.67M SF was under construction in the greater Northeast submarket, while there was 0 SF under construction in Norcross.
Rent growth in the Northeast submarket over the past five years was 87.5%, while the growth rate in the Norcross infill portion of the market was 79%
Norcross is one of Atlanta’s strongest and most dynamic industrial markets
4.1% vacancy rate in the Norcross submarket compared to 9.9% vacancy rate in the Northeast submarket
0 SF proposed or under construction as of 2024 Q2

SOUGHT AFTER LIGHT INDUSTRIAL PRODUCT TYPE

Institutionally maintained at the highest level by current owner
Dock-high front-load configuration
18-22′ clear heights
Modest reconfiguration of truck court will increase depth and efficiency
Approximately 15.4% office finish
Approximate average tenant size is ~48K SF
Significant discount to replacement cost

MARK-TO-MARKET OPPORTUNITY WITH PROVEN TENANT FUNDAMENTALS

Balanced rollover with near-term access to upside
3.7 years WALT
Over 99% of the leased square footage is Net
22.4% of RSF expires in the first two years
Representing a 52.1% mark-to-market opportunity

IRREPLACEABLE ACCESS

Exceptional proximity to Atlanta’s major logistical thoroughfares allowing for greater connectivity to the Atlanta area and its surrounding neighborhoods
0.7 miles from Buford Hwy
Multiple access points via Peachtree Industrial Blvd and Turman Dr
3.9 miles from Atlanta’s most traveled interstate offering connectivity to Atlanta and the entire eastern seaboard
1.9 miles from Pleasant Hill Road
8.2 miles from I-285