Press Releases
Marcus & Millichap Arranges Sale of Value-Add Industrial Warehouse in Georgia for $2.9 Million
February 15, 2024
DOUGLASVILLE, Ga., Feb. 15, 2024 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of 4179 Vansant Road, a 32,800-square-foot industrial warehouse located in Douglasville, Ga. The property sold for $2,913,000, or $88.27 per square-foot.
“This property presented a remarkable opportunity due to its location within a submarket where less than 2% vacancy exists for like-kind single tenant industrial buildings,” said Ani Paulson, vice president of investments. “Although we did not advertise for leasing, we still received a significant number of inquiries from tenants interested in the space. This strong interest, coupled with the scarcity of similar locations, confirms the property’s potential as a lucrative investment.”
Ani Paulson and Gerald Robison, investment specialists in Marcus & Millichap’s Atlanta office, had the exclusive listing to market the property on behalf of the seller, Bayou Commercial, and procured the buyer, Finial Group. John Leonard, Broker of Record in Georgia, assisted in closing the transaction.
The newly renovated industrial warehouse sits on approximately 4.74 acres of land in Douglasville, a high growth submarket of Atlanta, with easy access to I-20. The asset features a 25-foot clear height, two drive-in doors and eight dock-high doors, offering ample space for industrial outdoor storage.
“This property presented a remarkable opportunity due to its location within a submarket where less than 2% vacancy exists for like-kind single tenant industrial buildings,” said Ani Paulson, vice president of investments. “Although we did not advertise for leasing, we still received a significant number of inquiries from tenants interested in the space. This strong interest, coupled with the scarcity of similar locations, confirms the property’s potential as a lucrative investment.”
Ani Paulson and Gerald Robison, investment specialists in Marcus & Millichap’s Atlanta office, had the exclusive listing to market the property on behalf of the seller, Bayou Commercial, and procured the buyer, Finial Group. John Leonard, Broker of Record in Georgia, assisted in closing the transaction.
The newly renovated industrial warehouse sits on approximately 4.74 acres of land in Douglasville, a high growth submarket of Atlanta, with easy access to I-20. The asset features a 25-foot clear height, two drive-in doors and eight dock-high doors, offering ample space for industrial outdoor storage.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2023, the company had 1,783 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion. For additional information, please visit www.MarcusMillichap.com.
