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Plymouth Industrial REIT Expands Portfolio in Atlanta
Globenewswireยท 2025-05-28 20:15
Core Viewpoint - Plymouth Industrial REIT, Inc. has successfully acquired a 100,420-square-foot warehouse facility in Atlanta for $11.7 million, with an initial net operating income yield of 6.95% [1][2]. Acquisition Details - The newly acquired property is fully leased until May 2030 to a leading consumer self-care products provider, featuring a triple net lease with 3.0% annual rent escalations [2]. - The facility, built in 2014, includes modern features such as tilt-wall construction, 30-foot clear heights, and full climate control, which are essential for the tenant's operations [3]. Portfolio Expansion - This acquisition enhances the Company's existing portfolio in Peachtree City, bringing its total footprint in the Atlanta market to 15 buildings, totaling approximately 2.5 million square feet [3]. Strategic Insights - The CEO of Plymouth Industrial REIT emphasized the focus on identifying accretive opportunities in core markets, targeting well-located industrial assets at discounts to replacement costs, which are expected to yield attractive risk-adjusted returns [4].