Dalfen Industrial acquires Northwood Industrial Park in Norcross, GA
DALLAS, Oct. 23, 2019 (GLOBE NEWSWIRE) -- Dalfen Industrial has announced the acquisition of Northwood Industrial Park located at 2915, 2925 Courtyards Drive and 3055 Northwoods Circle, in Norcross GA (Gwinnett County – Northeast Atlanta submarket).
Northwood Industrial Park consists of three buildings totaling 143,668 square feet. The properties are strategically positioned in the highly desirable northeast Atlanta submarket where there is little to no land left to develop. Two of the buildings are fully leased to major tenants including Sortimo North America, HASO USA, Virteca, among others. The 3055 Northwoods Circle building, previously occupied by Comcast, is presently vacant. Dalfen plans to reposition the property to cater to the substantial leasing demand in the market.
“We continue to grow our portfolio in the Atlanta market,” says Sean Dalfen, President and CIO at Dalfen Industrial. Adding “strong tenant demands, business growth, and low vacancy rates have led to growing rental rates in Norcross and we continue to be bullish on that market.”
According to a JLL report, the market vacancy in Norcross is forecasted at 5.3%, compared to a higher 6.9% in Atlanta, rents at $5.84 psf compared to a lower $3.93 psf, and 42 million square feet of active tenant requirements as companies look for space that meets their requirements.
This acquisition brings Dalfen Industrial’s total portfolio to over 1M Square feet in Atlanta market. The company is also currently developing a 103,000 square foot building adjacent to the Hartsfield-Jackson Atlanta International Airport, in East Point, GA.
Dalfen Industrial is one of the nation’s largest buyers of industrial real estate and is a leader in the last-mile property sector. Their investment focus is on strategically located urban infill warehouses and distribution buildings. Dalfen Industrial currently owns and operates millions of square feet of premier industrial properties throughout the Unites States and in Canada.
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