ATLANTA, April 24, 2013 /PRNewswire/ -- Transwestern's Atlanta office today announced it arranged the sale of a 122,880-square-foot industrial warehouse facility located at 4695 Aviation Parkway in the Airport South industrial submarket. Briggs Equipment, a leading provider of materials handling equipment, acquired the property for $5.9 million. Transwestern's client Stockbridge Capital Group serves as the advisor to the real estate pension fund that sold the property.
The 4695 Aviation Parkway building is the largest warehouse facility located within International Airport Park (IAP), a master-planned industrial campus totaling nine buildings and 523,592 square feet. Briggs will occupy 100 percent of the firm's new facility once the build-out is completed. Stockbridge Capital Group will remain the advisor for the other eight IAP buildings.
"The sale of this facility is a win from many perspectives," said Brent Dutson, Transwestern's vice president and industrial specialist. "The entire International Airport Park will benefit from Briggs' long-term investment and commitment to occupy a significant portion of the vacant space. Most notably, this transaction will continue to tighten the Airport South market, particularly for the demand of space within the 80,000- to 120,000-square-foot range."
Built in 1987, the state-of-the-art facility features a 24-foot clear height, 31 dock-high doors, more than 215 parking spaces and above-market trailer storage areas. Ideally located between the Interstates 75, 85 and 285 interchanges, the entire IAP campus offers unparalleled access to Hartsfield-Jackson International Airport as well as all of metro Atlanta.Transwestern's Dutson and Julian Brown, principal, who represented seller, will continue to lease and manage all other properties at IAP. James Wiant with Wiant Commercial Real Estate represented Briggs.
ABOUT STOCKBRIDGE Stockbridge Capital Group is a real estate investment management firm, which, together with its affiliate, has approximately $5.5 billion of assets under management. The firm's investment portfolio comprises more than 30 million square feet of real estate properties throughout the United States. Stockbridge is actively seeking new investment opportunities in the multi-family, retail, industrial and office sectors in major U.S. markets.