Dealmaker: Cushman & Wakefield Arranges $287M in Property Sales
Cushman & Wakefield arranged property sales totaling $286.6 million in metro Atlanta and the Washington, D.C. area.
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In metro Atlanta, the firm arranged the $126.6 million sale of 1.2 million-square-foot light industrial park Gwinnett Commons. The sale represented the largest industrial acquisition by dollar amount in Atlanta this year.
Cushman Vice Chairman Stewart Calhoun and Senior Director Casey Masters represented the seller , a partnership between Westmount Realty Capital and Quilvest Capital Partners. Executive Director Brian Linnihan and Vice Chair Mike Ryan secured buyer CIP Real Estate’s acquisition financing.
The 16-building master-planned park also includes two rare infill development sites zoned M-1, appropriate for modern warehouse development, that can support a total of 195,000 square feet. Gwinnett Commons is eight miles from Interstate 285 and sits between three major Interstate 85 interchanges – Beaver Ruin Road, Steve Reynolds Boulevard and Pleasant Hill Road.
The firm also represented Carr Properties, Washington, D.C., when it sold the Barlow Building at 5454 Wisconsin Avenue in Chevy Chase, Md. for $160 million. Cushman & Wakefield Executive Vice Chair Bill Collins, Vice Chair Paul Collins, Executive Managing Director Drew Flood, Executive Director Eric Berkman, Director Shaun Collins and Managing Director Shaun Weinberg brokered the deal.
The Barlow Building is a freestanding, 18-story, 294,000-square-foot medical office building one block from the Friendship Heights Metro Rail Station, accessible from the Capital Beltway or I-270 via the Wisconsin Avenue exit.
