ATLANTA – Dermody Properties—a diversified private equity investment management company focused exclusively on the national logistics real estate sector—is pleased to announce the acquisition of 3640 Royal South Boulevard in Atlanta, Georgia. The 116,848 square-foot logistics facility was sold to Dermody Properties by EGLO, an international leading manufacturer of light fixtures, who will remain in the building for a short term. The property is located just south of Hartsfield Jackson Airport with access and visibility along Interstate 85.
“This well-positioned property is a great addition to our growing list of state-of-the-art offerings in the Southeast Region,” said Wes Hardy, Southeast Region Partner at Dermody Properties. “Tenant demand for logistics space in the Airport submarket has persisted, and near-term new development will be minimal. This building is well positioned to take advantage of these trends, and allows Dermody Properties to continue meeting our customers' needs.”
Dermody Properties will complete several aesthetic improvements to the building before it is ready to be leased in September 2024.
“Atlanta is one of the top cities in the country for job-seekers; coupled with the rise of manufacturing and distribution in the region, this submarket is a promising location for businesses looking to expand their operations in the Southeast,” said Tim Walsh, Partner and Chief Investment Officer for Dermody Properties. “Considering the Southeast’s growth and Atlanta’s favorable business climate, this property is an important part of Dermody Properties’ investment strategy.”
Dermody Properties was represented in this transaction by Mason Marsteller of Hughes Commercial Real Estate and John Gosnell of Strategic Real Estate Partners.
Dermody Properties currently has five properties available in its Southeast Region, offering over 1 million SF of state-of-the-art logistics space. The facility, 210 Interstate South Drive, will be available for occupancy in Q1 2024. LogistiCenter℠ at Bright Star Building 1 and Building 2, along with LogistiCenter℠ at Monroe Crossing, are currently available for pre-leasing with occupancy in late 2024. 3640 Royal South Boulevard, will be available for occupancy in Q3 2024. For more information, please visit the region page on the Dermody Properties website.
###
About Dermody Properties
Dermody Properties is a privately-owned real estate investment, development and management firm that specializes in the acquisition and development of logistics real estate in strategic locations for e-commerce fulfillment centers, third-party logistics and distribution customers. Founded in 1960, Dermody Properties has invested more than $10 billion of total capital across all platforms nationwide, having acquired and developed approximately 110 million square feet of logistics and industrial facilities. In addition to its corporate office in Reno, Nev., it has regional offices in northern and southern California, Atlanta, Phoenix, Seattle, Chicago, Dallas, Indianapolis and New Jersey. For more information, visit www.Dermody.com.
https://dermody.com/news/
