Foxfield, a real estate investment firm, has recently acquired a 169,252-square-foot industrial building in Duluth, Georgia. The property is located at 3059 Premiere Parkway and is currently leased to a technology company under a new six-year triple-net lease.
According to Commercial Edge reports, the warehouse was purchased for $19 million from the seller Barco. In addition to this acquisition cost, Foxfield also secured an $8.6 million acquisition loan from Aegon Insurance Co., with the maturity date set for 2031.
This transaction was structured as a sale-leaseback agreement with Barco continuing to fully occupy the space under their existing lease terms. The industrial facility was built in 1998 and has been occupied by Barco since then.
For Foxfield, this marks their fourteenth acquisition through their Foxfield Open-End Fund which launched in 2020 and focuses on acquiring fully leased Class A and B industrial properties as well as flex/R&D assets.
The negotiation of this deal was led by Dennis Mitchell , Matt Wirth , Britton Burdette , along with Jim Freeman of JLL’s Investment Sales and Advisory team representing the seller. Howard Boyd and John Crawford of Hailey Realty Co also provided assistance during this transaction.
