Investment Sale Just Closed – Jason Griffith, CCIM with NAI Utah South, sold a 56,900 SF 5-building multi-tenant industrial-flex investment property in Atlanta, Georgia to an investor. Griffith helped the client through an auction process to acquire the winning bid for the property, which sold for $1,950,000. The property was a Wells Fargo Bank REO property. With 83% occupancy, the investment realizes a 13% CAP rate based on the current in-place Net Operating Income and after accounting for vacancy, reserves, and property management. As occupancy increases, the CAP rate will increase even higher.
