Denver, CO (May 23, 2023)
Ascentris announced the acquisition of a 35-acre land parcel located on McEver Road in the Northeast industrial market of Atlanta, Georgia.
Ascentris, together with development partner CA Ventures (“CA”), will construct two rear-load industrial buildings totaling 395,000 square feet, including:
- 220,000 square feet
- 175,000 square feet
The buildings will feature:
- 32-foot clear heights
- 270-foot building depths
- 185-foot truck court depths
- Abundant trailer storage
- Ample auto parking
Located along the Interstate-985 corridor within Atlanta’s Northeast submarket, Georgia’s largest industrial submarket, the development is positioned to serve the large population base within Atlanta’s “Golden Triangle.”
The Golden Triangle refers to the area bounded by:
- I-285 to the south
- I-75 to the northwest
- I-85 to the northeast
This region has experienced a significant 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 project, which is scheduled to break ground in May 2023.
Nathan Anderson and Darren Butler of NAI Brannen Goddard will lease the property on behalf of Ascentris and CA Ventures.
“We are excited to partner with CA Ventures on such a promising development opportunity,” said Tricia Noble, Partner and Managing Director at Ascentris. “Atlanta’s industrial market continues to be robust, and we believe the property’s strong local distribution location, proximity to significant population growth, and high-quality construction will make for a successful investment.”
“We are pleased to contribute to the continued economic growth of the region through the development of the McEver site,” said Steve Rowley, Executive Vice President and Southeast Market Officer for CA Industrial. “The project will create jobs for Buford residents while helping meet regional demand for industrial and logistics facilities. We look forward to strengthening our partnership with Ascentris through the lease-up and delivery of this 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 major property types and geographic regions throughout the United States.
Since 2003, Ascentris’ management team has followed an investment philosophy designed to provide investors with access to opportunities ahead of the market while delivering a high level of service, transparency and accountability.
Ascentris is a privately held and management-owned SEC-registered investment adviser committed to putting investors’ needs first. Additional information is available at Ascentris.com.
About CA Industrial
CA Industrial is the industrial and logistics division of CA Ventures, focused on speculative ground-up development of modern logistics facilities in strategic U.S. markets.
The platform targets both:
- Mid-box multi-tenant industrial product
- Smaller urban-core logistics facilities
These investment strategies address growing demand for modern industrial space across U.S. logistics markets.
More information is available at 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 provides in-house investment, development and operational services and focuses on multiple commercial real estate sectors, including:
- Student housing
- Senior living
- Multifamily
- Industrial
- Medical office
- Life sciences
CA Ventures manages real estate investments on behalf of some of the world’s largest institutional investors across core, value-add and opportunistic investment vehicles.
More information is available at www.ca-ventures.com.
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