Lincoln Property Company Southeast (Lincoln) has brokered the $2.73 million sale of 11455 Lakefield Drive, a 59,746-square-foot industrial building in Johns Creek, Georgia, in the North Central submarket of metro Atlanta. Denton Shamburger, Jeff Henson and Chip Sipple of Lincoln represented the seller, General Electric Credit Equities, Inc., in the transaction. Hezli Holdings LLC was the buyer of the shallow-bay, rear-loading facility.
The sale is further evidence of a growing, improving market. Metro Atlanta’s industrial vacancy rate was 8.4 percent at the end of the first quarter, down from 9.1 percent three months earlier and 9.9 percent at the conclusion of second-quarter 2014, according to CoStar. Shallow-bay facilities in Atlanta’s North Central submarket are even healthier, posting a 4.2 percent vacancy rate at the end of March, according to CoStar.
“The market indicators remain positive and are headed in the right direction,” said Shamburger, vice president of industrial leasing for Lincoln.