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Turn-key Real Estate Services Results in Profitable Sale for Owner

 

McWhirter Realty Partners’ leasing and management team made numerous recommendations which proved effective in resolving the challenges that ultimately positioned the asset to sell at a price I was very pleased with. I would highly recommend their team for other projects and listings in this market.

  • Cal Franklin, Garrison Hill Partners, LLC

Case Study: Garrison Hill Village, Roswell, GA

The Property

Garrison Hill Village is a two-story, 21,337 SF shopping center in Roswell, Georgia. The property was originally zoned for office on the upper level and retail on the lower level. McWhirter Realty Partners assumed all leasing and property management responsibility in late 2007 with just one existing tenant.

What We Did

McWhirter Realty Partners assessed immediate challenges resulting from initial zoning, poor construction and decreased rates and leasing interest due to the recession. Maintenance and construction issues were corrected and the upper level was renovated into an open loft-style which differentiated it from other available space in the area and yielded immediate results. Once the economy started to improve, McWhirter Realty Partners targeted strong, long term tenants for 8-10 year leases to better position the property for a sale

The Result

In 2016, with 94 percent of the shopping center leased, McWhirter Realty Partners represented the owners in the sale of the building for $140 per square foot at a 9 percent cap rate.

Real Estate Focus: I-20 West/Fulton Industrial

The I-20 West/Fulton Industrial submarket is located along I-20 toward Douglasville to the west, Austell to the north and the Chattahoochee River to the south in Fulton County. It is currently the third largest of the nine defined industrial submarkets.

The location is convenient to major interstates, rail lines and Hartsfield-Jackson International Airport which make it an obvious option for e-commerce fulfillment centers and warehouses. Southwire and APL Logistics both renewed warehouse leases in the area recently.

While vacancy rates for the industrial market overall remain low, there was an increase in spec industrial space causing the submarket to see a slight increase in vacancy. This new supply will provide more options to prospects specifically looking for warehouse and flex space. Prospective companies should not expect the increased vacancy to lower rental rates however, as the Fulton Industrial market has seen the highest increases in warehouse rents year-over-year.[1]

Atlanta’s industrial market overall has seen significant economic growth and the I-20 West/Fulton Industrial submarket will continue to be in high-demand. McWhirter Realty Partners has extensive knowledge of the industrial market and its submarkets. If you have questions about industrial real estate available in the metro Atlanta area, contact us today.

McWhirter Realty Partners focuses on brokerage, property management and development services with expertise in industrial, self-storage, office, retail, medical and land sales throughout the United States. The company consistently ranks as a Top Ten Producer as recognized by the Atlanta Commercial Board of REALTORS. McWhirter Realty Partners is located at 300 Galleria Parkway, Suite 300, Atlanta, Georgia 30339. www.mcwrealty.com.

[1] Colliers International Research & Forecast Report Q2 2015 Industrial

Real Estate Focus: Henry County

Henry County, located just 20 miles south of Atlanta, is primed for growth and strategically working to increase corporate investment in the county. Having already attracted corporations such as Carter’s Inc., Georgia Power and Ken’s Foods, Inc., county officials are focused on further expansion and retention. Leading the charge is the Henry County Development Authority whose mission is to promote economic development by attracting new business and retaining existing industries.

Recently, the Henry County Development Authority launched a study to determine which industries the county would be most likely to attract. The results identified Advanced Manufacturing, Healthcare Services, Logistics and Professional Solutions as the industry’s most likely to locate in Henry County.

Henry County has many attributes, including transportation and distribution connectivity with direct rail service from Norfolk-Southern Railroad, accessibility via Interstate 75, a direct route to the Port of Savannah – not to mention being just minutes south of Hartsfield-Jackson International Airport. Henry County also has the skilled workforce available to meet the needs of corporate growth with a renowned selection of major university, college and technical school campuses located within an hour’s drive.

Henry County’s quality of life also ranks high within the community. Residents enjoy a low cost of living, quality K-12 education system and excellent access to healthcare through Piedmont Henry Hospital.

Given these factors, Henry County is well-poised to attract real estate investors and developers. McWhirter Realty Partners has extensive knowledge of the county and surrounding area to help organizations maximize the benefits of relocating to, or within, Henry County.

Current opportunities include:

If you have questions about real estate in Henry County of the metro Atlanta area, contact us today.