**CIP Real Estate Acquires Lavista Business Park in Tucker, GA for $37 Million**
CIP Real Estate has acquired Lavista Business Park, a 217,496-square-foot industrial property located in Tucker, Georgia, for $37 million. The seller in the transaction was ATCAP Partners.
To finance the acquisition, CBRE arranged a $26.3 million loan on behalf of CIP Real Estate. The five-year, floating-rate, interest-only loan was secured through LoanCore Capital by CBRE Capital Markets’ Debt & Structured Finance team, consisting of Mike Ryan, Brian Linnihan, Richard Henry, and Taylor Crowder, based in Atlanta.
Originally constructed in 1972, Lavista Business Park spans 11.76 acres and is located at 2000-2068 Weems Road. The industrial park includes four single-story, shallow-bay industrial buildings, each averaging approximately 54,000 square feet. Property features include recently installed roofing systems, clear heights ranging from 16 to 20 feet, 55 dock-high doors, one drive-in door, and 209 parking spaces. At the time of the sale, the property was 92% leased to 15 tenants.
Lavista Business Park is situated within the Stone Mountain industrial submarket, which continues to experience strong performance. According to CBRE research, the submarket recorded one of Atlanta’s lowest industrial vacancy rates — just 4.1% — in the fourth quarter of 2024.
