Gwinnett Complex Is Biggest Flex Industrial Sale In Years

CIP Real Estate paid $126.6M, or $105/SF, for Gwinnett Commons, a 13-building, 1.2M SF light industrial complex off Interstate 85 and Shackleford Road, just south of Pleasant Hill Road. It has eclipsed the bulk prices paid for light industrial and flex industrial properties in Atlanta for the past five years, which was previously topped by AVG Partners’ $93M 2018 purchase of Ciba Vision’s facility at 11440 Johns Creek Parkway, according to Transwestern.

“Industrial really is the sweetheart sector right now,” Bull Realty founder Michael Bull said. “The need for industrial locations is just so strong, investors are really just clamoring to invest in these low-interest rate [environments].”

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