Sperry Equities has sold Gwinnett Park, a 981,720-square-foot light industrial and business park portfolio spread across 18 buildings in the Atlanta-area community of Norcross, Ga., for $71.25 million.
Dogwood Industrial Properties, a platform that acquires, owns and operates high-quality, infill multitenant industrial assets in strategic metropolitan markets, purchased the portfolio. Dogwood is wholly owned by TPG Real Estate Partners, the dedicated real estate equity investment platform of global alternative asset firm TPG.
Gwinnett Park’s buildings were constructed between 1973 and 1997. The buildings feature 18- to 22-foot clear heights, a combination of shallow bay suites, a mix of grade-level and dock-high doors, high parking counts and varied office finishes. The property is approximately 87 percent leased to more than 55 tenants in various sectors, including manufacturing, healthcare, logistics, education, consumer goods, marketing, financial services, engineering, and commercial and business services. Gwinnett Park is in the Northeast Industrial submarket — one of Atlanta’s strongest and most active industrial submarkets — with direct accessibility to Interstate 85, one of city’s most traveled thoroughfares.
