Lincoln Property Co. Buys 1.1M SF Industrial Portfolio in Alpharetta

Lincoln Property Co. has acquired a portfolio of 10 industrial properties in Alpharetta, Georgia, a northern suburb of Atlanta. The portfolio spans roughly 1.1 million square feet and was built between 1995 and 2000.

The buildings offer clear heights of 18 to 23 feet, truck courts and about 24 percent office finish. At the time of sale the portfolio was fully leased to 21 tenants, which makes it an income-producing asset from day one.

The transaction marks the fourth acquisition for the Lincoln Logistics Fund II. The seller and the sales price were not disclosed, so the deal's valuation cannot be determined from the report.

For developers and lenders, the deal reinforces continued investor appetite for older, leased bulk industrial space in the Atlanta suburban submarkets.