A joint venture between The Ardent Cos., Taconic Capital Advisors and Axonic Capital has sold a four-building light industrial business park totaling 281,677 square feet in an infill location in Atlanta’s Cumberland Galleria submarket. The sales price was $38.5 million.
Albany Road Real Estate Partners purchased the asset through Albany Road Fund III, a closed-end vehicle with $225 million committed to date.
Situated on 22.7 acres at 120 Interstate Northwest, the portfolio is in the heart of the $3.5 billion Cumberland Community Improvement District corridor, which is at the interchange of interstates 75 and 285. The location allows easy access to Atlanta’s most affluent demographics and schools, along with the most dense population centers. The Cumberland-Galleria area is highly amenitized and hosts an institutional business community that includes The Battery, one of Atlanta’s premier mixed-use projects of the last decade.
The property is 87 percent leas
