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March 23, 2022
Ackerman & Co./Pioneer Land Advisory Group Complete Land Sale for Site of 2.3 MSF Industrial Development in Union City
Strategic Real Estate Partners purchases 189 acres for $11.875 million.
ATLANTA, March 23, 2022 – The Ackerman/Pioneer Land Advisory Group has completed the sale of 189 acres of land in Union City, Ga. to Strategic Real Estate Partners (SREP). The property on Roosevelt Highway (US Highway 29), will be the site of Union City Commerce Center, an industrial park featuring multiple buildings totaling up to 2.3 million square feet of space.
The Ackerman/Pioneer Land Advisory Group’s John Speros, JT Speros and Kyle Gable represented the seller, the Brown Family, in the sale of 74 acres and represented SREP in acquiring the additional 115 acres. The property sold for $11.875 million.
The sale included 11 parcels ranging from .40 acres to 29.6 acres. The Union City Commerce Center site is situated within Atlanta’s busiest industrial hub, the Airport/South Atlanta submarket, with an inventory of 122 million square feet. The submarket has a robust construction pipeline and strong demand due to its strategic location near Hartsfield-Jackson Atlanta International Airport and Interstate accessibility to key Southeast markets.
“This site offers the buyer an opportunity to establish a master-planned industrial park in Atlanta’s largest industrial submarket to serve the ongoing strong demand for distribution space,” said John Speros, Senior Vice President of Ackerman & Co.’s Land Group. “The record prices warehouse properties have been attracting in the South Atlanta submarket demonstrate the strong development and investment climate for industrial assets.”
Union City Commerce Center provides convenient access to the I-85/I-285 interchange (3.5 miles) and is less than 2 miles from South Fulton Parkway. The site is also only 5 miles from Hartsfield-Jackson International Airport, which generates $34.8 billion economic impact for metro Atlanta and provides more than 63,000 jobs on-site.
The Ackerman/Pioneer Land Advisory Group has represented numerous owners in land sales for prominent housing and commercial real estate developments, brokering more than $400 million in property sales across the Southeast.
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 100 real estate professionals. To date, Ackerman & Co. has developed and acquired 37 million square feet of office, medical, industrial, retail and mixed-use space, has 4.5 million square feet under management, and maintains an investment portfolio valued at $1 billion. For more information, visit www.ackermanco.com