Oakcliff Industrial Park
3211-3239 and 3123-3149 Oakcliff Industrial Street
Atlanta, GA
ACQUIRED
January 2013
SOLD
December 2015
SQUARE FOOTAGE
123,611
TYPE OF BUILDING
Warehouse, Distribution
Ideally located immediately off an interchange at the intersection of I-85 and I-285, Cambridge Hanover purchased this real estate owned (REO) property in 2013 from a lender at a discount to the market value of the property. Upon acquisition, Cambridge Hanover implemented capital improvement projects to address the deferred maintenance issues of the property in order to improve the image of the two buildings. The company also partnered with the local property manager and leasing agent to proactively approach tenants to lengthen their leases, thereby reducing downturn costs and establishing stable cash flow. Tenants who have leased space in the Oakcliff Industrial Park are largely in the wholesale industry, including Ferguson Enterprises, a U.S. based subsidiary of Wolseley plc based in the United Kingdom which is currently listed on the London Stock Exchange. Cambridge Hanover sold the building to a private real estate developer in December 2015.
