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Ascentris to develop two class-A industrial properties in Atlanta
Ascentris, a Denver-based real estate private equity firm, has acquired a 35-acre land parcel located in the Northeast industrial market in Atlanta, with the aim of building two class A industrial buildings at the site.
Ascentris and its development partner CA Ventures plan to construct two rear-load buildings of 220,000 square feet and 175,000 square feet in size, featuring 32-foot clear heights, 270-foot building depths and 185-foot truck court depths with trailer storage and auto parking. Located along the I-985 corridor within Georgia’s largest industrial submarket, the development is positioned to serve the large population base within the “Golden Triangle” area of Atlanta.
The development marks the first joint venture between Ascentris and CA Ventures. The partnership secured a construction loan with Stifel Bank and Trust for the development of the property, which is scheduled to break ground this month.
“We are excited to partner with CA Ventures