October 8, 2025 – Presidential Drive is a 62,581sf, 94% occupied service industrial property in the infill Chamblee submarket of Atlanta, GA, located inside the perimeter at the I-85 and I-285 interchange. The two-building property consists of nine tenants, averaging 6,258sf per suite, 18’ clear heights and a mix of drive-in and dock-high loading. The property caters to a wide array of service industrial tenants and aligns with CenterSquare’s Service Industrial thesis. The urban infill location has benefited from shrinking industrial supply, as over 20% of industrial supply inside the I-285 perimeter has been demolished or redeveloped over the last 20 years.
The property was sourced off-market and shown exclusively to CenterSquare, after we identified the opportunity through targeted market screening and initiated discussions with the seller on an arm’s-length basis. The business plan consists of raising the below market rents up to market, and capital improvements including roof repair, select HVAC replacement, and asphalt and concrete repairs. These improvements, combined with our institutional management, will allow CenterSquare to successfully execute its value-add strategy and drive meaningful growth in net operating income.
This transaction is our ninth Service Industrial investment in our value-added strategy. With two prior realizations, our current service industrial portfolio now stands at over 1.6 million square feet. It also marks CenterSquare’s second Service Industrial acquisition in Atlanta, following the Atlanta Service Industrial Portfolio acquisition by Value-Added Fund V at the end of last year.
“This investment speaks to CenterSquare’s conviction in the Atlanta market, where we continue to grow our portfolio, and in the Service Industrial sector, which remains poised for institutionalization,” said Rob Wasenius, Senior Vice President, Private Equity Real Estate. “We are excited to expand our footprint in Atlanta and continuing to execute on our Service Industrial thesis.”
CenterSquare Value-Add Fund V is closed to new investors and is mentioned for informational purposes only. The inclusion of CenterSquare Value-Add Fund V is intended solely to illustrate the adviser’s investment approach and does not constitute an offer to sell or a solicitation of an offer to buy interests in the Fund.
