Three light industrial assets trade for $18.15M in Georgia

ATLANTA, Jan. 31, 2024 – JLL Capital Markets announced today that it arranged the $18.15 million sale of a three-property, light industrial portfolio totaling 141,481 square feet in Norcross, Georgia.

JLL represented the seller, Berkeley Partners, and procured the buyer, Unilev Capital.

The rear-load distribution warehouses are located at 6420-6476 Warren Dr. in an infill portion of the Northeast Atlanta submarket, just 0.8 miles from Interstate 85 and three miles from Interstate 285. The assets were built between 1973 and 1978 and are currently 86% leased to 13 tenants.

"We are very grateful to the JLL team for the opportunity and Berkeley Partners for their trust in us," said Ian Konowitch, Chief Financial Officer of Unilev Capital. "We are excited about expanding our industrial footprint into the Atlanta market and plan to continue the growth of our multi-tenant, shallow-bay industrial strategy in both Atlanta and the rest of the Southeast.”

"We are delighted to begin our expansion in the Southeast with this strategic acquisition of three high-quality shallow-bay industrial assets in a prime location," said Raymond Levy, Co-Founder and Principal of Unilev Capital. "I would like to recognize the Unilev team, Ian Konowitch, Peter Berges and Roxana Boiero, for their hard work and dedication in closing this transaction on time and as promised. I would also like to express our appreciation to JLL and Berkeley Partners for their professionalism and cooperation throughout the process."

The JLL Capital Markets team was led by Senior Managing Directors Matt Wirth, Dennis Mitchell and Britton Burdette and Directors Jim Freeman and Mitchell Townsend.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

For more news, videos and research resources, please visit JLL’s newsroom.

Berkeley Partners, along with its affiliated entities, is a fully integrated principal investment firm focused exclusively on industrial real estate. Since 2005, its affiliates have sponsored a series of value-add and core-plus investment vehicles dedicated to the light industrial sector. The Firm’s vertically integrated platform includes competencies in asset management, property management, leasing management and construction management. As of September 30, 2023, Berkeley Partners owns and operates approximately 11.0 million square feet of light industrial real estate with $2.5 billion of assets under management across targeted growth and gateway markets within the United States.

Co-Founded in 1993 by Raymond Levy, Unilev Capital Corporation is a privately held real estate investment firm that specializes in the acquisition of well-located, income producing commercial properties in the United States. Unilev typically focuses on core plus to value-add return profiles depending on the deal. Unilev Capital acquires properties through off-market and market-negotiated transactions that have ultimately resulted in an impressive track record for itself and its investors.

Unilev Management Corporation is a full-service management company providing integrated due diligence, asset management, property management, accounting and engineering services. Unilev is headquartered in Beverly Hills, California, with affiliated offices in Texas, Colorado and Minnesota. For additional information, visit unilev.com.