Birmingham’s GCP makes another Atlanta deal

Birmingham’s GCP makes another Atlanta deal

Birmingham-based GCP recently acquired a large industrial property in the Atlanta area.

The company said it purchased 2165 Northmont Parkway for $12.5 million. The facility is a 185,745-square-foot building located in Duluth.

Reliant Real Estate Partners represented GCP in the deal, and will handle leasing. CBRE represented the seller, Uline, in the transaction. Wells Fargo provided acquisition financing, according to GCP.

“The Northmont acquisition is a logical complement to GCP’s Atlanta assets and enhances our presence in the Northeast submarket,” said Taylor Graham, vice president of Investments for GCP. “Our holdings in Atlanta are now 25 percent of our total portfolio, and this well-maintained property adds great balance in terms of location and quality.”

The company also recently acquired a major property in the Savannah market.

GCP, which is headquartered with associated firm Graham & Co. in the Historic Federal Reserve Building downtown, has built a portfolio of more than 8 million square feet in the past five years, including 3.5 million square feet in the past 18 months.

View original article from Birmingham Business Journal here