Cushman & Wakefield’s Atlanta industrial services team has been selected by MK Asset Management to provide agency leasing services for a five-property, 657,560-square-foot industrial portfolio in Northeast Atlanta. MK Asset Management recently acquired the 11-building portfolio, which currently has 236,000 square feet of vacant industrial space.
“The acquisition is a further indication that close-in industrial and flex product is seeing a significant upturn in interest both by investors and users,” said Pat Murphy, Senior Managing Director of Cushman & Wakefield’s Industrial Agency team. “MK Asset Management understands this and is positioned to take advantage with these quality properties.”
Murphy, a 30-year industrial market veteran, will lead the Cushman & Wakefield leasing efforts, along with Boris Garbuz and Tara Healy.
The properties in the portfolio include:
- Colony Center, a 45,940-square-foot building that’s fully leased
- Bay Colony, a two-building property totaling 94,792 square feet that’s 69 percent leased
- Medlock Oaks, a three-building property totaling 151,851 square feet that’s 58 percent leased
- Oakbrook Place, a two-building property totaling 190,170 square feet that’s 77 percent leased
- Five Oaks, a three-building property totaling 174,807 square feet that’s 43 percent leased
According to Cushman & Wakefield, Atlanta’s industrial vacancy rate in the fourth quarter was 9 percent with 3.5 million square feet of positive net absorption. In total, 21.9 million square feet of industrial space was leased in 2016.
For more information about Cushman & Wakefield’s Atlanta industrial team, visit cushwakeatlanta.com.