Westmount Grows Atlanta Presence With Industrial Property Acquisition
Friday, April 29th, 2022
Westmount Realty Capital announced the purchase of an office flex building in Marietta, which is just outside Atlanta’s major metro area. Marietta Technology Center is an 85,685-square-foot single-story office /flex property located at 2121 Newmarket Parkway SE. This purchase marks Westmount’s fifth acquisition over the past six months in the Atlanta market and follows the firm’s February acquisition of Atlanta Plaza 85, another industrial infill portfolio comprised of nine flex/light industrial buildings spanning 191,526 square feet in Atlanta’s Norcross submarket.
Marietta Technology Center is part of a sprawling 37-acre landscaped office park located within 30 minutes of downtown Atlanta with direct access to I-285, I-75 and US-41. The property sits less than 3 miles away from popular sporting and shopping areas like Truist Park, The Battery and Galleria Mall and also sits within the Marietta Opportunity Zone. Atlanta’s strong demographic growth and economic development have made the city a strong area for real estate investment.
“Atlanta’s airport, low tax environment and universities are the biggest drivers for company relocations and growth in the region which has propelled investor interest in the city’s booming industrial market,” said Cliff Booth, Westmount’s founder and chairman. “With more than 35 years’ experience in the value-add sector, this has taught us that urban infill properties are a long-term investment that never goes out of style with more tenants that have a need and want to be close to business centers but can’t achieve this with new ground-up construction.”
