Ackerman & Co. Completes Industrial Building Sale in Stone Mountain Industrial Portfolio

    ATLANTA, GA, March 28, 2017 /24-7PressRelease/ -- Ackerman & Co. has completed the $1.8 million sale of 1911 Mountain Industrial, a 24,833-square-foot, single-tenant industrial building within the company's Stone Mountain Industrial Park located in the Tucker/Stone Mountain submarket of Atlanta, Ga.

With retail-quality location and a five-year lease term remaining, the building is fully occupied by Eckhart, one of the top electrical contractors in Georgia for the last 80 years. The property was sold - in an off-market deal - to a local real estate investor. Ackerman & Co. Senior Vice President Brett Buckner and Associate Major Martin represented the landlord in the transaction.

Ackerman & Co. acquired the 4.1-million-square foot Stone Mountain industrial portfolio in December 2016. Through careful improvements and on-site leasing and management, occupancy has increased to 91 percent, up from 84 percent at time of purchase. "This is a well occupied, cash flowing asset with tremendous upside potential," said Brett Buckner. "Our buyer was excited about the opportunity to purchase a property with future redevelopment potential in a proven submarket," he added.

The company has identified and is marketing additional buildings for sale at Stone Mountain Industrial Park and will continue to focus on the lease-up of existing vacancies.

About Ackerman & Co.

Headquartered in Atlanta, Ackerman & Co. is a privately held, full-service commercial real estate firm focused on providing quality investment, brokerage, management and development services in the Southeast. The company, founded in 1967, retains an expert team of more than 100 real estate professionals. To date, Ackerman & Co. has developed and acquired nearly 35 million square feet of office, medical, industrial, retail and mixed-use space, has more than 7 million square feet under management, and maintains an investment portfolio valued at $1 billion.

For more information on Ackerman & Co., visit www.ackermanco.com

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