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Subjects: HSP, ASI, BLK, DEI

NewStar Announces Sale of McEver 985 Distribution Center in Northeast Atlanta, Georgia


ATLANTA, June 29, 2023 /PRNewswire/ -- NewStar Asset Management ("NewStar" or the "Company") announced today the sale of McEver 985 Distribution Center (the "Property"), a 214,479 square foot Class A warehouse developed by the Company and delivered in May 2023. Project specifications include a 32' clear height, 34 dock doors with 12 35,000 lb. levelers, 2 drive-in doors, 185' truck court with 30 trailer spaces, and 135 car parks. Choate served as the General Contractor.

Atlanta-based NewStar Announces Sale of McEver 985 Distribution Center in Northeast Atlanta, Georgia

The Property is located in the Northeast industrial submarket of Atlanta, with convenient access to I-985. In addition to serving the broader Atlanta and Southeast logistics economy, the Property sits within a recently developed industrial park featuring projects delivered or underway from Hines, Brookfield, Macquarie and other global industrial investors. The Property is 46 miles northeast of downtown Atlanta and 5 miles south of Gainesville, Georgia, ranked the #1 U.S. housing market by Bankrate in 2023 out of 212 metropolitan statistical areas. The Northeast Atlanta industrial submarket was more than 95% leased through Q1 2023, and T-12 rent growth among the Property's competitive set exceeded 30%.

For more information on NewStar, please contact [email protected].

About NewStar: NewStar Asset Management is a real estate-focused alternative investment and asset management company based in Atlanta, Georgia. For more information visit www.newstar-am.com.

SOURCE NewStar Asset Management


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