Dallas, TX – Hillwood Investment Properties, a Perot company, in a partnership with Brookfield Asset Management, the Hillwood-Brookfield Industrial Partners fund, has acquired a 1,004,400 square-foot, Class A bulk distribution building located in the northeast submarket of Atlanta, GA.
“We are pleased to add this exceptional, state of the art property to our national portfolio of quality assets,” said Tom Fishman, Hillwood’s Executive Vice President of Acquisitions.
Jackson 85 was developed in 2008 with modern design specifications including 32’ minimum clear height, tilt-up concrete construction, dedicated trailer storage and ESFR fire protection. Located at 350 Raco Parkway, the property lies within Atlanta’s premier industrial submarket, I-85 Northeast. Jackson 85 is less than one mile from I-85, the primary distribution artery from Atlanta to the Northeast United States.
Hillwood and Brookfield are planning a number of improvements to the building, including 2,500 square feet of office space, high velocity fans and T-5 warehouse lighting with motion sensors. Improvements are scheduled to be completed in the fall. The property is currently 52% leased, providing 486,000 square feet available immediately for lease.
“We are enthusiastic about expanding our platform in northeast Atlanta,” said Dan Tatsch, Hillwood’s Market Officer for Atlanta. “With the addition of Jackson 85, we can now accommodate users ranging from 500,000 square feet at Jackson 85 Distribution Center II to 1,000,000 square feet at Commerce 85 Distribution Center in nearby Commerce, Georgia.”
Hillwood, a Perot company, is ranked as one of the top commercial real estate investors and developers in the country and the top residential developer in Dallas-Fort Worth. Hillwood’s developments currently house facilities for 60 companies listed on the Fortune 500, Global 500 or Forbes List of Top Private firms. Hillwood is best known for its Alliance brand that includes the 17,000-acre AllianceTexas, 4,474-acre AllianceFlorida at Cecil Commerce Center, and 2,000-acre AllianceCalifornia. For additional information, please visit www.hillwoodinvestmentproperties.com.
About Brookfield Asset Management
Brookfield Asset Management is a global alternative asset manager focused on property, renewable power, infrastructure and private equity, with over US$150 billion of assets under management, which includes approximately US $88billion of property assets under management in North and South America, Europe and Australia. In addition, the company provides clients with an extensive array of real estate advisory, property and investment services. Brookfield is publicly listed on the NYSE, TSX and Euronext Amsterdam under the symbol BAM, BAM.A and BAMA, respectively. For additional information on the company, please visit http://www.brookfield.com.