Gwinnett 316, a 2.2 million square feet industrial park with 15 buildings in Atlanta's sought after I-85/Northeast submarket, was recently acquired by Hillwood.
"We don't see high-quality established industrial parks like Gwinnett 316 come on the market very often, so we worked hard to make this transaction happen," said Tom Fishman, executive vice president of acquisitions and dispositions. "With a deep and diversified labor base, excellent amenities and superior location, this property marks another very strategic and competitive acquisition for Hillwood."
According to the press release of Hillwood in Business Wire, Gwinnett 316 is ideally located one mile away from GA Hwy 316, providing immediate access to I-85 and Atlanta's most dynamic industrial corridor. The building in the property has an average construction date of 1992, and features state-of-the-art amenities such as an average 24' clear height, ESFR sprinkler systems, T-5 lighting, ample parking, and low office build out. Gwinnett 316 also allows maximum lease-up flexibility and tenant expansions with their suites that range from 4,000 to 200,000 square feet.
"With a Top 10 economy and [as] one of the fastest-growing regions in the nation, Atlanta is largely considered the economic hub of the Southeast," said Todd Parker, senior vice president and Southeast market leader. "We see tremendous growth in this market, and with opening our new Atlanta office, this infill portfolio expands the Hillwood footprint to 4.7 million square feet in metro Atlanta."
At present, Gwinnett 316 is undergoing a series of major capital improvements, including enhanced landscaping, parking lot and roof refurbishments, and make-ready improvements of vacant space.
Hillwood is a Dallas-based full service real estate developer, investor and advisor of high quality real estate properties. Founded by Ross Perot, Jr. in 1998, Hillwood is actively involved in development, acquisitions, construction, leasing, property management and asset management of high quality, well located, flexible and functional industrial properties located throughout North America and Europe.
At present, Hillwood has more than 110-million square feet of industrial development and acquisitions.
