Atlanta, Georgia / Nashville, Tennessee (PRWEB) July 01, 2012
Amstar, a Denver-based real estate investment manager, and Huntington Industrial Partners, a fully-integrated industrial owner and operator, announced today the acquisition of 3760 Southside Industrial Parkway located in Atlanta, Georgia, and 1325 Heil Quaker Boulevard located in Nashville, Tennessee. Both properties are 100% leased and collectively represent more than 375,000 square feet of industrial space.
Centrally located two miles from Hartsfield-Jackson Atlanta International Airport and one mile from the I-75/I-285 intersection, 3760 Southside Industrial Parkway is a 187,134-square-foot single-tenant bulk industrial property constructed in 1989 that is currently 100% leased to Pratt Corrugated Holdings, a wholly-owned subsidiary of Pratt Industries, Inc., America’s sixth-largest paper and packaging company.
In Nashville, the partners purchased 1325 Heil Quaker Boulevard, a 187,930-square-foot single-tenant bulk industrial property constructed in 1989 located within Nashville’s largest and most vibrant industrial submarket, Interchange City. Less than one mile from I-24, the property offers superior access to Nashville’s highway network, including three major interstate systems (I-40, I-24, and I-65), two inner loop connections (I-440 and Briley Parkway) and a recently constructed outer beltway (SR 840). The property, which offers a functional design including cross-dock capability, is 100% leased to Regal-Beloit Corporation.
“These properties are consistent with Huntington’s strategy of purchasing institutional quality assets in key industrial markets at a discount to replacement cost. We are pleased to partner with Amstar on our initial acquisitions in the Atlanta and Nashville markets,” said John W. Seiple Jr., President of Huntington Industrial Partners.
“We are very excited to partner with Huntington on these two industrial buildings,” said Amstar Managing Director Rob Toomey. Amstar believes that these two properties are well-located, but undervalued, and offer it and its clients the potential for attractive current income and also the opportunity of appreciation through proactive asset management.
Amstar Advisers, LLC is a global investment manager focused on creating value for its clients through the implementation of sound real estate-related investment strategies. The firm is an affiliate of, and is commonly managed by, Amstar Group, LLC, a real estate asset manager with over 25 years of experience in acquisition, development, and capitalization of office, hotel, multifamily, industrial, and retail properties within the major markets of the United States and select markets in Europe and Latin America.
Together, Amstar Advisers, LLC and Amstar Group, LLC (collectively referred to as “Amstar”) have approximately $1.9 billion in assets under management. Amstar's core investment strength lies in maintaining disciplined and diligent underwriting while decisively taking advantage of opportunities in a rapidly changing investment environment. Amstar Advisers, LLC has approximately $854 million in assets under management. For more information on Amstar, go to http://www.amstar.com or contact Amstar Managing Director Rob Toomey at rob(dot)toomey(at)amstar(dot)com.
About Huntington Industrial Partners
Huntington Industrial Partners is an industrial real estate operating company with a strategic focus on acquiring and developing infill industrial properties in select U.S. markets. Huntington has offices in Atlanta, Dallas, Denver and Southern California, staffed by local teams with extensive industrial experience, local market knowledge and an established network of market contacts.