Amazon acquired a 1.3-million-square-foot industrial building, the Chattahoochee Logistics Center, at the corner of Fulton Industrial Boulevard and Campbellton Road in South Fulton. Amazon signed on in 2020 as the lessee to the property.
Amazon paid $129.8 million for the approximately 153-acre property. Walton Street Capital was the seller.
The Atlanta Business Chronicle reports the company received preliminary approval from Fulton County for a $16 million tax break, spread across 10 years, to enable this purchase and a future renovation of the facility into a first-mile fulfillment center.
Amazon has historically leased far more buildings than it has owned, generating hundreds of millions in profits for developers that sold their buildings to institutional investors after securing a lease with the company.
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