Plymouth Industrial REIT, Inc. Acquires Portfolio of Three Single-Tenant Industrial Buildings in Atlanta for $11.4 Million
January 03, 2018 at 06:30 am
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Plymouth Industrial REIT, Inc. announced that on December 21, 2017 it acquired three single-tenant industrial buildings in Atlanta, Georgia totaling 330,361 square feet for $11.425 million in cash. The acquisition is projected to provide an initial yield of 8.3%. The portfolio is occupied by three longstanding tenants with extended histories at the properties with excellent visibility and access to I-20. The 198,000-square-foot 1665 Conyers Drive is leased to DiversiTech. The 100,000-square-foot 1715 Dogwood Drive is occupied by Bio-Lab, a chemical and cleaning products company for the pool and spa industries. The 32,361-square-foot 11236 Harland Drive is occupied by Clairon Metals Corporation, a leading metal stamping company.
Plymouth Industrial REIT, Inc. is a full service, vertically integrated, self-administered and self-managed real estate investment trust. The Company is focused on the acquisition, ownership, management, redevelopment and development of single and multi-tenant industrial properties, including distribution centers, warehouses, light industrial and small bay industrial properties, located in primary and secondary markets, as well as select sub-markets in United States. Its portfolio consists of approximately 156 industrial properties comprising over 211 buildings located in 12 states, with an aggregate of approximately 34.0 million rentable square feet. It owns substantially all of its assets and conducts substantially all of its business through Plymouth Industrial OP, LP (the Operating Partnership). Its portfolio consists of holdings in various markets: Chicago, Cleveland, Memphis, Jacksonville, St. Louis, Indianapolis, Columbus, Cincinnati, Atlanta, Boston, Charlotte, and Kansas City.
PLYMOUTH INDUSTRIAL REIT, INC. 
