ATLANTA, GA – Chandler Residential has acquired Colton Creek, a 500-unit community in McDonough, GA, from Fairfield McDonough LLC in a $ 80 million transaction.
The sale, valued at $ 160,000 per unit, marks the third acquisition by Chandler Residential in the Atlanta area in 18 months.
Mike Kemether of Cushman & Wakefield, Alex Brown, Travis Presnell and Robert Stickel represented the seller Fairfield McDonough and arranged the sale.
"Henry County's strategic location, which serves Atlanta with access to the Port of Savannah, has created an unrivaled e-commerce and e-industry corridor," said Kemether. “Henry County led the way in both population and household income growth compared to other counties in the Atlanta MSA. Chandler Residential is poised to take advantage of this rising tide by purchasing Colton Creek. "
The facility is located near the industrial and e-commerce corridor of Interstate 75, which has been building newly delivered or currently under construction industrial space spanning 27.5 million square feet since 2018. The corridor is expected to create more than 35,000 jobs.
"When Fairfield acquired this asset in 2017, they were at the forefront of McDonough's growth," says Brown. “During the course of their ownership, this area has been one of the top performing submarkets in Atlanta. The strong industrial employment base and limited shipments over the past 15 years should drive Chandler Residential's continued growth. "
Colton Creek in McDonough, GA.