JLLÂ Capital Markets arranged a $35.7 million acquisition for COFE Properties to acquire the Atlanta Small Bay Portfolio, a seven-building shallow bay industrial complex totaling 397,959 square feet in Atlanta, Georgia. Synovus was the lender.
The portfolio consists of properties positioned in northeast Atlanta. The buildings range from 45,000 to 77,000 square feet. COFE plans to implement strategic capital improvements including building enhancements, site work and tenant space upgrades to position the properties competitively within the market.
The properties feature average tenant suite sizes of 8,650 square feet and are currently 83.6 percent leased to 35 tenants spanning wholesale and distribution, specialty trades, logistics, construction and home improvement industries.
COFE Properties’ industrial strategy focuses on acquiring and actively managing small-bay, multi-tenanted properties in infill locations with high barriers to entry and close proximity to population centers.Â
The JLL Debt Advisory team was led by Melissa Rose, Bobby Norwood, Nicole Diaz and Preston Bacon.
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