Third & Urban acquired Northridge Commons, a seven-building, 470,000-square-foot flex industrial campus in Sandy Springs. The Dilweg Companies was the seller. While the most recent sales price was not disclosed, the campus last sold for $51.5 million in 2019. 

Tenants at the project include Pontoon Brewing Co., an Inspire Brands innovation center, and Invitation Homes, a subsidiary of Blackstone. The 38-acre campus is on Dunwoody Place, located off Roswell Road south of the Chattahoochee River.

Northridge Commons is currently 83% leased. Third & Urban said it will reposition some of the office spaces to attract more flex industrial users. 

Third & Urban is known for its creative urban infill projects, such as Common Ground, Westside Paper and Armour Yards. It has also proposed overhauling a sprawling, aging office park on the doorstep of the new Children’s Healthcare of Atlanta campus. The firm’s pipeline encompasses 3.2 million square feet valued at $1.4 billion.

EQT Exeter paid $36.25 million ($125/square foot) for an office/industrial portfolio within Satellite Place at Commerce Ave in Duluth, Georgia. The portfolio, spanning 289,921 square feet, is a collection of four flex industrial /R&D/office buildings.

The offering comprises three industrial buildings at 2405, 2425 and 2450 and one single-story office building at 2400. The assets traded from Satellite Place Property, LLC and Satellite Commercial Property, LLC, to  EQT Exeter.

Newmark’s Casey Keitchen brokered the deal on behalf of the sellers, “The new ownership plans to convert the asset to a higher industrial finish ratio over time.”

EQT Exeter says it offers modern, high-quality properties in more than 50 cities around the world where its tenants most want to be. EQT Exeter Real Estate Income Trust (“EQRT”) is an externally managed, non-traded perpetual life REIT designed to provide investors access to a global, vertically integrated real estate platform.