As a low finish, shallow bay, multi-tenanted industrial product located in an irreplaceable infill location, the Property currently serves a variety of uses including warehouse and distribution that benefits from the ability to reach over 2 million people, the majority of their respective customer bases, in under 30 minutes. Currently, Piedmont Warehouses is 86% leased with a WALT of 3.5 years, offering secure in-place cash flow with a value-add opportunity: through lease-up and capitalizing on rent growth. Industrial rental rates ‘Inside the Perimeter’ (ITP) have grown by 19.7% annually on average since 2015. Piedmont Warehouses provides investors with a unique opportunity to acquire two cash flowing urban infill industrial assets with a two pronged value-add opportunity: industrial lease-up & rent growth and creative loft office conversion.
Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the Piedmont Warehouses as a unique opportunity to acquire an urban infill two-building light industrial portfolio located in the vibrant Midtown submarket.