GCP, the Birmingham, Ala.-based industrial real estate firm, has acquired 7900 Troon Circle, a 160,000-square-foot Class A industrial property in the Atlanta metro area. The acquisition supports GCP’s goal of diversifying its holdings outside of its core Birmingham portfolio. The purchase price for the off-market transaction was $9.4 million.
 
“The Troon Circle acquisition is part of our long-term strategy to expand our footprint into the fastest growing cities in the Southeast,” said Gardner Lee, president of GCP. “We look to buy in-fill locations that help our customers move their goods quickly and efficiently, and this acquisition fits that strategic goal.” With this latest acquisition, GCP has amassed a portfolio containing approximately 1.35 million square feet of institutional grade, bulk distribution industrial properties in the Atlanta market in the last 12 months. “We expect to continue to acquire several other similar properties in the Atlanta market over the next year. We have several exciting opportunities in our pipeline that we expect to close in the first and second quarters of 2017.”
 
The 7900 Troon Circle property is located in the I-20 West/Fulton Industrial submarket and Riverside micro-market, which has some of the newest and most functional bulk distribution properties west of Atlanta.
 
The facility, an institutional quality light manufacturing and distribution warehouse, was acquired by EG Industries in 2014. EGI invested significant capital in the property and will remain in the building as the primary tenant. The Ohio-based company uses the Troon Circle facility primarily for the manufacturing and distribution of automotive parts.  EG serves several automobile manufacturers around the Southeast.
 
The transaction follows the recent sale of GCP’s Vanderbilt Road warehouse in Birmingham. In recent years, GCP has grown its portfolio to include manufacturing, e-commerce and logistics properties in Atlanta, Charlotte, N.C., and Tampa and Jacksonville, Fla.