Ascentris, CA Ventures to Develop Two Class-A Industrial Buildings in Atlanta’s I-985 Corridor
Denver, CO (May 23, 2023) – Ascentris, a Denver-based real estate private equity firm, announced today the acquisition of a 35-acre land parcel located on McEver Road in the Northeast industrial market in Atlanta, GA. Ascentris, together with its development partner, CA Ventures (“CA”), will construct two rear-load buildings of 220K sf and 175K sf in size, featuring 32’ clear heights, 270’ building depths, and 185’ truck court depths with abundant trailer storage and auto parking.
Located along the Interstate-985 corridor within the Northeast submarket, Georgia’s largest industrial submarket, the development is ideally positioned to serve the large population base within the “Golden Triangle” area of Atlanta – the area bounded by the I-285 perimeter to the south, I-75 to the northwest and I-85 to the northeast – which has experienced an outsized share of Atlanta’s population and household growth over the past five years.
The development marks the first joint venture between Ascentris and Chicago-based developer CA Ventures. The partnership secured a construction loan with Stifel Bank and Trust for the development of the property, which is scheduled to break ground during May 2023. Nathan Anderson and Darren Butler with NAI’s Brannen Goddard will be leasing the property for Ascentris and CA.
“We are excited to partner with CA Ventures on such a promising development opportunity,” said Ascentris Partner and Managing Director Tricia Noble. “Atlanta’s industrial market continues to be robust, and we believe the property’s strong local distribution location, proximate to significant population growth, and high-quality construction will make for a successful investment.” added Noble.
“We are pleased to contribute to the further economic growth of the region through the development of the McEver site, which will create jobs for Buford citizens while fulfilling the region’s demand for industrial and logistics facilities,” said CA Industrial Executive Vice President and Southeast Market Officer Steve Rowley. “We look forward to strengthening our partnership with Ascentris through the lease-up and delivery of this premium asset.”
About Ascentris
Ascentris is a real estate private equity firm based in Denver, Colorado that manages a series of fully discretionary institutional vehicles targeting both value-add and core investments across the major property types and geographic regions within the United States. Since 2003, Ascentris’ management team has relied on an investment philosophy and organizational structure for the purposes of getting its investors to opportunities ahead of the market and providing unmatched level of service, transparency, and accountability. Ascentris is a privately held and management-owned SEC-registered investment adviser that maintains an unwavering commitment to put its investors’ needs first. Additional information is available at Ascentris.com.
About CA Industrial
CA Industrial is the dedicated industrial and logistics arm of CA Ventures, the global real estate investment manager, developer and operator. The vertically integrated industrial platform is focused on speculative, ground-up development of modern logistics facilities in strategic U.S. markets. The firm’s barbelled investment strategies capitalize on the unmet demand for mid-box multi-tenant industrial product, as well as smaller product within the urban core. For more information, visit www.ca-ventures.com/real-estate/industrial.
About CA Ventures
CA Ventures is a global vertically integrated real estate investment management company with more than $13 billion in assets across the United States, Europe and Latin America. The Chicago-based firm offers comprehensive in-house investment, development and operational services, and specializes in a range of niche, commercial real estate asset classes including student living, senior living, multifamily, industrial, medical office and life sciences. CA Ventures manages real estate investments on behalf of some of the world’s largest institutional investors across a range of core, value-add and opportunistic investment vehicles. The firm also offers third-party management services for student and residential assets. For more information, visit www.ca-ventures.com.