Coro Realty Sells Two Industrial Buildings, Eyes Further Investment in I-985 Corridor with Proceeds
Tuesday, July 26th, 2022
Real estate investment and management company Coro Realty has sold 2500 and 2505 Main Street in Kennesaw, Ga., two separate industrial properties totaling more than 95,000 square feet and 11 acres across from Cobb County International Airport - McCollum Field.
2500 Main Street is an 81,000-square foot industrial building occupied by Beacon Sales Acquisitions Inc.. It sits on 7.5 acres. 2505 Main Street is a 15,000-square-foot building on 3.5 acres leased by Performance Contracting Inc. Alterra Property Group is the buyer for both.
“Coro Realty acquired these properties as a value-add industrial portfolio and sold them at a material profit,” said Robert Fransen, President and Managing Partner at Coro Realty. “Demand in the industrial sector in and around metro Atlanta is outpacing product, which helped us net a solid return on a market-driven exit.”
Coro Realty will use the proceeds for acquisitions and the development of 5659 Southfield Drive in Flowery Branch, Ga., which it acquired in the initial portfolio. Coro Realty plans to add up to 150,000 square feet of new industrial space at the Flowery Branch site. It offers convenient access to I-985 at HF Reed Industrial Parkway.
