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New Jersey-based Woodmont Industrial Partners has sold a 520,000 s/f industrial property in the southeastern U.S. for $18 million.
The Mt. Zion Industrial Center at 1791 Mount Zion Road in Morrow, Georgia was acquired by RealOp Investments, a commercial real estate investment company, on behalf of an institutional investor.
Woodmont, an affiliate of Fairfield, NJ-based Woodmont Properties, acquired the property for $9.2 million in 2018 and completed a major capital improvements program. The property was successfully leased to transportation and logistics services provider XPO Logistics, which occupies the full 519,500 s/f distribution center.
“Woodmont Industrial Partners continues to actively and strategically expand its footprint into industrial markets along the eastern corridor of the United States,” said Anthony Amadeo, Vice President at Woodmont Industrial Partners.