Stone Mountain Industrial Park, a 4.1-million-square-foot, 69 building industrial campus in the Tucker/Stone Mountain submarket of Atlanta, traded hands for $135 million this week. Ackerman & Co. partnered with Investcorp, an alternative investment manager and active real estate investor in Atlanta and the Southeast, to acquire the property from the original developer, Pattillo Industrial Real Estate. Cushman & Wakefield's Stewart Calhoun, David Meline, Samir Idris and Casey Masters brokered the sale on behalf of Pattillo, who announced in June that they intended to dispose of the property.
"Investcorp and Ackerman are fortunate to own these well-built and strategically located properties," said Kris Miller, President of Atlanta-based Ackerman & Co., in a press release.
"We congratulate Ackerman and Investcorp on their bold new investment. They are committed to an area that has a Community Improvement District, a newly incorporated City of Tucker and a sterling location that has served a strong business community for many years," added Larry Callahan, CEO of Pattillo Industrial Real Estate.
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