The sale of 4.6 Million SF of legacy property will fuel company growth into new markets
Tucker, DeKalb County, GA – Pattillo Industrial Real Estate has listed approximately 80 buildings for sale in the Tucker/Stone Mountain submarket. The Southeastern developer is currently expanding into new markets through speculative development and building/portfolio acquisitions. The company is working with Cushman & Wakefield to market its legacy properties. This offering amounts to 4.6 million square feet of industrial buildings concentrated in a single submarket. Pattillo was the original developer and master planner of the Industrial Park and has owned and renovated the buildings through their entire existence.
Pattillo Industrial Real Estate currently owns 20 million square feet of industrial real estate and thousands of acres of industrial land. This strategic sale of the 4.6 million S.F. cluster will allow it to focus its resources on speculative construction on its existing undeveloped land and provide fuel to push into new Southeastern markets including Florida, North and South Carolina, Tennessee, and Kentucky.
Larry Callahan, CEO of Pattillo Industrial Real Estate, said “this sale is an opportunity for an investor to establish a dominant position in a proven submarket. Stone Mountain has proven to be a great place for business and we fully expect that to continue under the guidance of the next owner of these buildings. While we work on the sale transaction, we are excited about the range of new investments that the company will be able to make with the proceeds from the transaction.”
About Pattillo Industrial Real Estate:
Since 1950, the Pattillo family has been dedicated to developing top quality industrial buildings in progressive communities. Pattillo Industrial Real Estate is now a third‐generation developer that owns and manages over 200 buildings. As the largest privately held industrial development operation based in the Southeastern United States, the company specializes in the development, acquisition and management of industrial buildings that provide superior locations and operating efficiency for its warehousing, distribution, and manufacturing clients and tenants.