675 Hartman Road, Austell, GA 30168
KBS REIT II was able to capitalize on this investment by acquiring a brand new state-of-the art facility at a time when there were not as many buyers in the market for this product type.
The highly function building with 28’ to 32’ clear heights, the long term in-place leases and the location of the property in the desirable I-20 West submarket were all strengths for this investment. Given the great condition the property was in at acquisition, KBS REIT II invested very little capital into the property during the hold period, which contributed to the success of the investment. KBS REIT II was able to sell the property for $12.7 million.
Investment at a Glance
Location: Austell, GA
Property Type: Class A Industrial
Acquisition Date: April 7, 2010
Purchase Price: $10,800,000
Sale Date: June 28, 2012
Sale Price: $12,650,000
No. of Buildings: 1
Square Footage: 261,799 SF
Leased Percentage (at the time of Acquisition): 100%