Foxfield has acquired a 169,252-square-foot industrial building in Duluth, Ga. Called 3059 Premiere Parkway, the warehouse is leased to a technology company, which will occupy the space under a new six-year, triple-net lease, 

Commercial Edge reports the property changed hands for $19 million from seller Barco. The new ownership also secured a $8.6 million acquisition loan from Aegon Insurance Co., with a maturity date set for 2031. 

The deal was a sale-leaseback agreement, with Barco continuing to fully occupy the space under a six-year, triple-net lease. The industrial facility came online in 1998.

This deal marked Foxfield’s 14th acquisition made through its Foxfield Open-End Fund, that opened in 2020 and has been targeting fully leased Class A and B industrial and flex/R&D assets.

Dennis Mitchell, Matt Wirth and Britton Burdette, together with Jim Freeman with JLL’s Investment Sales and Advisory team negotiated on behalf of the seller. Hailey Realty Co.’s Howard Boyd and John Crawford also provided assistance.

Foxfield and AEW Capital Management, are moving ahead on their Sugarloaf Logistics Hub campus project in Gwinnett County, Georgia. Foxfield and AEW acquired the property in 2022 with the intent to convert a six-building, 740,000 square feet, corporate office campus into a master-planned campus with over 2.2 million square feet of industrial, warehouse and logistics uses in seven new buildings ranging from 120,000 square feet to over 600,000 square feet with flexible floor plates.

Souto Foods signed a lease on a 200,000-square-foot building within the campus for a significant cold storage component. The company plans to invest $28 million in the site and hire 70 new positions in the county.

Additionally, the duo sold a 13-acre multifamily development parcel to Westplan Investors. This land sale will pave the way for the development of approximately 330 multifamily dwelling units along Sugarloaf Parkway and Cruse Road. Construction is expected to commence in the second quarter of 2025. A JLL team headed up both the lease agreement and the land sale.