A Boston-based private equity firm, Taurus Investment Holdings, has made a significant investment in Metro Atlanta by acquiring a collection of shallow-bay flex industrial properties.
The firm secured 12 Class-B properties totaling 814,000 square feet across three metro counties, as part of its latest acquisition. Among these properties is the 2140 Newmarket Parkway building located in Marietta.
Taurus declared that the purchase includes a four-building complex off Oakbrook Parkway in Norcross, though the transaction amount remains undisclosed.
While Taurus did not publicly reveal the seller of the acquired properties, Georgia’s real estate records indicate that the selling LLCs are associated with Link Logistics, a subsidiary of Blackstone.
The portfolio comprises several properties situated in Cobb County, including 2140 and 2150 Newmarket Parkway, as well as 1000, 1100, and 1200 Williams Drive, alongside 300 Town Park. It also features 11350 Old Roswell Road in Alpharetta.
Interestingly, the properties are reportedly around 96% occupied by over 40 tenants, and Taurus is optimistic about growing demand in the area, attributing this to high construction costs that hinder new developments.
Taurus CEO Peter Merrigan expressed confidence in the acquisition, stating, “This acquisition aligns perfectly with our deep conviction in the last-mile shallow bay industrial sector.”
In a related transaction, Marcus Partners and RPM Investments acquired The Heights at Shadowood, a 287-unit apartment complex located near The Battery Atlanta in Cobb County.
The two Boston-based firms announced plans to rebrand the property as The Maddux at Shadowood but have yet to disclose the purchase price.
Developed by The Worthing Cos., the apartment complex was built in 2023 with backing from a loan of $38.5 million sourced from Pinnacle Financial Partners.
Public records indicate that Cobb County valued the project at $60 million in 2024. The transaction was brokered by CBRE’s Don Hoffman.
In further development news, the city of South Fulton is set to hold a vote on July 8 regarding a rezoning proposal for 191 acres along Spence, Senoia, Irwin, and Fayetteville roads.
This rezoning, which aims to shift the land from agricultural use to light industrial, is intended to facilitate a massive 1.8 million square foot warehouse complex across three buildings, according to a public notice.
KMT Partners, founded last year by former Bridge Investment Group executive Greg Boler, is behind the proposal and has previously submitted an application for review with state planners.
Additionally, Wellstar Hospital System is advancing plans for a new $1 billion, 230-bed hospital located off Cobb Parkway in Acworth, opposite the Wellstar Acworth Health Park.
According to the Atlanta Business Chronicle, Wellstar has filed a letter of intent with the Georgia Department of Community Health, a necessary initial step towards obtaining a certificate of need required for the facility.
In a separate initiative, Empire Communities is pursuing a zoning change for nearly 9 acres at 1280 Chattahoochee Ave. in the Upper Westside area.
The proposed project intends to establish 105 for-sale townhomes and 350 apartments, totaling 448,000 square feet, adjacent to Topgolf Atlanta Midtown and near Selig Enterprises’ The Works redevelopment.
Currently, the site accommodates Heely-Brown Co., a roofing company, which is planning a relocation to Smyrna.
On the personnel front, SRS Real Estate Partners has appointed Brittany McCall as senior vice president to bolster the firm’s landlord services platform.
McCall is a seasoned commercial real estate professional with 21 years of experience, previously serving as a managing member of Vantage Realty Partners, where she worked on leasing various projects.
Furthermore, Jim Chapman Construction Group has announced Jay Kiger’s promotion to lead its newly formed commercial contracting firm, Chapco Design Build, focusing on construction related to residential amenity complexes, retail, and light industrial projects.
Jim Chapman will assume the role of chairman of Chapco.
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