Attracted to Atlanta’s active Northeast industrial submarket, Lincoln Property Company purchased three buildings in Suwanee, Ga., totaling 482,896 rentable square feet.
Located at 475, 485 and 495 Horizon Creek Drive, the buildings are 100-percent leased by six tenants including CME Wire & Cable, Atlanta Cable Sales, Blue Sky Imports, Mycoal and PODS. CB Richard Ellis represented the seller in the transaction.
With no new leasing required, Lincoln plans to focus on maintaining positive tenant relationships to retain these tenants for future renewals.
“This property appealed to Lincoln for a number of reasons,” said Lincoln Senior Vice President Tony Bartlett. “The buildings are located in Atlanta’s largest and most active submarket with excellent interstate access. In addition, the buildings were constructed in 2007 and are extremely functional and built to state of the art design specifications.”
Nationally Lincoln has been involved in more than $1.2 billion in acquisitions in the last 12 months. LPC Southeast has completed more than $80 million worth of acquisitions in 2011 with the purchases of 55 Allen Plaza and Horizon Creek, both of which were purchased on behalf of public pension fund clients.