Avistone announced today that it has acquired Gateway Oaks in Marietta, Georgia, a growing suburb of Atlanta. The Class A, 152,579 square-foot, multi-tenant, flex/industrial park represents Avistone’s 20th acquisition and its fifth in the Atlanta industrial market.
With this latest addition to its portfolio, the Orange County, California-based commercial real estate investment firm currently operates and manages 19 flex/industrial properties totaling 2,565,146 square feet in California, Georgia, Ohio, Texas, and Florida, and increases its total square feet purchased to 2,717,725.
“We founded the company five years ago and are pleased to have reached this milestone in a relatively short period of time,” said Richard M. Kent, president and managing partner of Avistone. “Adding this property to our growing portfolio of industrial parks in a highly competitive market is testament to the commitment of our talented acquisitions team.”
Avistone is currently seeking properties to add to its portfolio. The company targets stabilized and value-add multi-tenant, flex/industrial parks with more than 100,000 square feet in growing metropolitan markets throughout the U.S. ranging from $5 million to $50 million.