950 Riverbend Drive represents a value-add investment in an existing multi-tenant distribution building in the heart of Northwest Georgia’s “Carpet Corridor”
Atlanta, GA – InLight Real Estate Partners is pleased to announce the acquisition of 950 Riverbend Drive. The existing 522,500 square foot distribution facility sits on 21.88 acres in Dalton, Georgia, a dense manufacturing node along Northwest Georgia’s Interstate 75 corridor. The property is fully occupied by five (5) tenants, and features a 30’ clear height throughout 60% of the building, 46 dock-high doors and ample additional trailer parking spaces.
Northwest Georgia’s industrial real estate market is supply constrained, with an average vacancy rate hovering around 2% since 2015. The site is less than 20 miles from the Appalachian Regional Port, providing direct rail access to the port of Savannah, the fastest growing port in the U.S.
This acquisition is a strategic fit with InLight’s core investment strategy of acquiring industrial properties located in strong labor markets, with close proximity to ports. Atlanta is the ninth largest MSA in the United States, and consistently boasts continued population growth. The I-75 Northwest Industrial Submarket, which includes Dalton, Georgia, offers a deep base of skilled labor, due to the long history of manufacturing in the area.
For decades, the “Carpet Corridor” has been home to a significant portion of the global flooring industry’s top manufacturers, including Shaw Industries, Mohawk Flooring, Engineered Floors and countless others. More recently, the area’s local economy has experienced diversification in its employer base, welcoming multi-billion-dollar investments from job creators in the solar panel and electric vehicle parts manufacturing industries.
“950 Riverbend Drive’s location allows distributors access to three (3) different exits on I-75, with direct access to the dense population centers of Atlanta to the south and the core Tennessee markets to the north.” said Matt DiLeo, Principal of InLight Real Estate Partners. “The large production base in Dalton, coupled with manufacturers reshoring to the U.S. and continued direct foreign investment, will continue to drive demand for industrial real estate in Northwest Georgia.”
The acquisition of 950 Riverbend Drive is one of eleven industrial real estate acquisitions made by InLight Real Estate Partners in the Atlanta MSA over the past 18 months. It is representative of the firm’s hyper-local focus, a differentiating factor which provides significant value creation for partners and clients.
For more information, contact:
Matt DiLeo, Principal – Atlanta