LOS ANGELES – April 5, 2016 – A fund advised by CBRE Global Investors has acquired Union Station Business Center, a newly constructed 987,840 square foot state-of-the-art distribution/warehouse industrial building in the Atlanta area. The property is 100 percent NNN-leased to a leading logistics provider and will serve as the primary Southeast distribution hub and kitting operation for a prominent coffee and coffeemaker company.
Located at 6000 Shannon Way in Union Station, Georgia, the property is strategically positioned in close proximity to key transportation arteries, intermodal terminals, the Hartsfield Jackson International Airport and the coffee company’s manufacturing center. The property, which has a flexible design that could be easily multi-tenanted, includes in-demand features such as cross-docking configuration, 185-foot truck courts with 60-foot concrete aprons, ESFR sprinklers, 52-foot by 56-foot deep column spacing with 60-foot staging, a 36-foot clear height demanded by “e-tailers,” 255 trailer parking spaces, 223 car parking spaces, 182 dock doors, 7-inch thick concrete slab, and T-5 fluorescent lighting with motion sensors.
“Atlanta is a target market for industrial for our program,” said Kim Hourihan, Portfolio Manager, CBRE Global Investors. “It is the nation’s third largest industrial market and is the financial, business service, transportation, and distribution center of the Southeast. The Atlanta MSA has seen strong growth recently with net absorption that has caused the industrial vacancy rate to drop below pre-recession levels.”
About CBRE Global Investors
CBRE Global Investors is a global real estate investment management firm with $89.0 billion in assets under management* as of December 31, 2015. The firm sponsors investment programs across the risk/return spectrum for investors worldwide.
CBRE Global Investors is an independently operated affiliate of CBRE Group, Inc. (NYSE:CBG). It harnesses the research, investment sourcing and other resources of the world’s premier, full-service commercial real estate services and investment firm for the benefit of its investors. CBRE Group, Inc. has more than 70,000 employees in more than 400 offices (excluding affiliates) worldwide. For more information about CBRE Global Investors, please visit www.cbreglobalinvestors.com
*Assets under management (AUM) refers to the fair market value of real estate-related assets with respect to which CBRE Global Investors provides, on a global basis, oversight, investment management services and other advice, and which generally consist of investments in real estate; equity in funds and joint ventures; securities portfolios; operating companies and real estate-related loans. This AUM is intended principally to reflect the extent of CBRE Global Investors’ presence in the global real estate market, and its calculation of AUM may differ from the calculations of other asset managers.