Avistone, LLC Acquires Northwest Business Center in Marietta
Thursday, June 14th, 2018
Avistone, LLC announced that it has acquired Northwest Business Center in Marietta, Georgia, a burgeoning suburb of Atlanta. The 470,971 square-foot, multi-tenant flex/industrial park represents Avistone’s 19th acquisition – its fourth in the Atlanta market – and boosts the number of square feet owned, operated and managed by the Orange County, California-based commercial real estate investment firm to more than 2.5 million.
Northwest Business Center is strategically located in Atlanta’s vibrant Northwest market, which includes the newly constructed Atlanta Braves’ Sun Trust Park, the Battery (a newly constructed residential, office and retail development attached to Sun Trust Park) and a second IKEA location in the Atlanta market currently under construction. The area also includes the recently added Home Depot Marietta Technology Center and the Atlanta United Football Club’s headquarters and training facility.
“Northwest Business Park is our largest acquisition to date,” said Richard M. Kent, president and managing partner of Avistone, LLC. “We’re committed to delivering value to our investors, including providing monthly distributions from in-place cash flow. Consequently, we focus on acquiring multi-tenant flex/industrial properties with high occupancy rates in dynamic markets. Northwest Business Center definitely meets that criteria.”
Avistone is currently seeking multi-tenant flex industrial parks with more than 100,000 square feet in growing metropolitan markets throughout the U.S. The company focuses on stabilized or value-add properties ranging from $5 million to $35 million.