This Week's Atlanta Deal Sheet: Philly Investor Buys 3 Atlanta IOS Sites
A Philadelphia-based real estate investment firm that recently raised $925M for an industrial outdoor storage fund has purchased 28 acres across three Metro Atlanta parcels for new IOS facilities.
Alterra Property Group’s Alterra IOS arm purchased 0 Liberty Industrial Park in McDonough, 2620 Campbell Blvd. in Ellenwood and 498 Tuggle Greer Drive in Buford. Alterra will turn the properties into storage for truck trailers, construction materials and other items out in the open.
Alterra paid $12.5M for the Ellenwood property and $6M for the Tuggle Greer land in June, according to public records.
Alterra is developing two Class-A IOS facilities of 20K and 6K SF on 12.5 acres at Liberty Industrial Park. In Ellenwood, Alterra’s 10.5-acre site already has a 24,500 SF maintenance shop and office building. And in Buford, the 5.3-acre paved site is home to a 39K SF warehouse, according to a press release.
Piedmont Properties/CORFAC International's Christian Samartino, Oakley Real Estate Partners' Jordan Camp and Lee & Associates' Mendy Ruder brokered the sale of two of the sites.
Alterra set out to raise a $900M IOS Venture III fund in April, Bisnow reported. A spokesperson for the company said it exceeded that goal by $25M.
SALES
The Sterling Organization has sold the 211K SF Roswell Market Center to an undisclosed buyer.
The shopping center at 1580 Holcomb Bridge Road is shadow anchored by The Home Depot and is home to AutoZone, Dollar Tree and AT&T. Sterling purchased the property in 2015 for $8.6M and was valued at $5.2M in 2024 by Fulton County, according to records.
JLL's Jim Hamilton, Brad Buchanan and Andrew Kahn brokered the sale.
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An affiliate of the Sterling Organization purchased 4850 Massachusetts Blvd. and 1926 Hyannis Court, two industrial outdoor storage properties in College Park totaling 5.8 acres, Markets Markets Insider reported. The purchase price was $8.6M.
Matthews Real Estate Investment Services' Harrison Auerbach brokered the sale.
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550 McGill Blvd LLC purchased the 10K SF commercial building at 550 Ralph McGill Blvd. in the Old Fourth Ward neighborhood for $3.6M from an Atlanta entity known as Howdy Partners II LLC. Bull Realty President Michael Bull brokered the sale.
PERSONNEL
Kajima Building & Design Group appointed Jim Goodwin as its new president and CEO, elevating from his previous post as chief operating officer as of July 1. Goodwin, who has been with the firm since 1997, has improved KBD’s headquarters operations, scheduling discipline, cost management, on-site coordination and safety protocols, according to a press release.
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Radio Residential tapped Amie Robertshaw as vice president of client services, tasked with growing the multifamily giant’s third-party service platform, based in Denver. Robertshaw previously was vice president of client services with the property management firm Asset Living.
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Bull Realty hired commercial real estate broker Philip Kelly to focus on the healthcare real estate sector. Kelly, who has a doctor of optometry degree, has previously worked in the healthcare sector.
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Former Seefried Industrial Properties Chief Operating Officer Greg Herren has been promoted to president and CEO of the Atlanta-based firm following the retirement of its founder, Ferdinand Seefried, earlier this month.
Seefried also promoted Jim Condon to chief development and operating officer, Paul Seefried, the founder's son, as executive vice president, and Doug Smith, who had been senior vice president, as Southeast regional partner.
LEASING
Solomon Brothers Jewelers extended its 11K SF lease at Tower Place 100 in Buckhead, while Libreum expanded by 21K SF and Barnes and Thornburg expanded by 5,300 SF, according to a press release.
Lincoln Property Co.’s Hunter Henritze, Alex Port and Maia Perri brokered the deals for the landlord, Trimont and San Diego-based Trigild Inc.
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Atlanta-based coworking outfit Switchyards is opening its 11th Atlanta location at 1237 Strickland Road. The firm signed a 5,200 SF lease, with plans to convert the warehouse space into an area that would cost $100/month for members to use. The location will be Switchyards’ first outside of the Interstate 285 Perimeter, What Now Atlanta reported.
The office is set to open on Aug. 29.
CORRECTION, JULY 19, 10 A.M. ET: Alterra raised $925M for its industrial outdoor storage fund, not $900M, as a previous version of this article stated. This article has been updated.
