Exeter Picks Up Atlanta-Area Warehouse
The previous owner, Suzuki Motor Corp., traded the industrial asset for $9 million. The building last changed hands in 1998.
By Jeff Hamann
3075 Chastain Meadows Parkway
Exeter Property Group has acquired a 130,250-square-foot industrial property from Suzuki Motor Corp. in Kennesaw, Ga. The asset traded for $9 million, according to Cobb County records.
The warehouse is located approximately 20 miles northwest of downtown Atlanta, at 3075 Chastain Meadows Parkway. Interstate 575 runs along the west side of the property’s 6.5 acres. The parcel includes 2.9 acres which can be utilized for future expansion.
Avison Young’s Brent Weitnauer, Chip Watson and Ben Parker acted on behalf of the seller in the transaction. Suzuki purchased the building in 1998 from Quintus Corp. for $5.1 million, per Yardi Matrix data.
“(The property) was one of the only larger freestanding facilities in the Northwest corridor of Atlanta,” said Weitnauer, principal of Avison Young, in a prepared statement. “We had significant interest in the site because of its image quality, access to major highways and unique expansion capabilities.”
In January, Exeter grabbed a two-building industrial portfolio near Columbus, Ohio. An Avison Young team arranged the transaction on behalf of the seller.
Image courtesy of Yardi Matrix
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