January 8, 2025 – CenterSquare is pleased to announce the acquisition of an Atlanta Service Industrial Portfolio. The five- building portfolio is 108,400sf, 100% occupied and located in the Buford and Suwanee submarkets of Atlanta. The portfolio comprises 25 tenants, with an average suite size of approximately 4,000 square feet, 14’ – 18’ clear heights, and a mix of drive-in and dock-high doors. The Portfolio caters to a wide array of service industrial tenants.
The investment is being made on a direct basis, on behalf of CenterSquare Value-Added Fund V. The business plan consists of raising the below-market rents up to market and making various capital improvements to the Portfolio including select HVAC replacements, asphalt repairs, roof repairs, and reducing office space in suites with higher office finish. 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 the sixth Service Industrial investment in Fund V, bringing our total service industrial portfolio to nearly 1.3 million square feet, and the third Fund V investment in Atlanta.
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.
