Just Closed: Dalton Industrial
LA JOLLA, CA, November 7, 2024 – Legacy West Partners is proud to announce the acquisition of an approximately 43,000 square foot industrial warehouse in Dalton, Georgia. The property is 1980’s construction with a newly constructed expansion boasting 22-foot clearance. During escrow, our partners were able to negotiate a 30% price reduction, placing the purchase price at ⅓ below replacement cost. At the same time, the seller executed a favorable short-term lease, giving our team the ability to place debt on the property and provide immediate value upon closing. During the term of this loan, our team will focus on property renovations and market for a long-term tenant.
Our partners are committed to value creation through focused improvements that elevate property standards and drive long-term success. In line with this focus, our team will immediately implement upgrades to the facility, including new LED lighting, refinishing of floors, new safety railings, and refreshed parking lot striping. The exterior will also receive substantial enhancements, from new paint and landscaping to roof resealing and gutter upgrades. Additionally, a reconfiguration of the lot will allow for new Industrial Outdoor Storage (IOS) space, complemented by fencing and clean-up for a more secure and optimized space.
Located in Northwest Georgia, Dalton has earned a reputation as the "Carpet Capital of the World," with a robust industrial sector that supports diverse manufacturing and logistics businesses. Its strategic location offers access to major transportation networks, facilitating efficient distribution across the Southeast. Dalton’s industrial market is marked by consistent demand with less than 2.5% vacancy and growing rents—making it an attractive area for Legacy West Partners' continued expansion.
Legacy West Partners is dedicated to delivering high-performance assets in thriving markets, creating exceptional value for investors. This acquisition exemplifies our commitment to growth and our strategic focus on industrial properties across the Southeast. Contact us for more information about this acquisition and to be considered for future opportunities. To stay informed about new opportunities as they arise, we invite you to join our Investor Network.