ATLANTA — Three businesses worked together to buy a more than 25,000 square-foot industrial building near Hartsfield-Jackson Atlanta International Airport.
Firestone Partners, Matterhorn Venture Partners, and Fox Capital Partners have formed a joint venture to acquire a 25,382-square-foot industrial building in Conley, part of Atlanta’s Airport industrial submarket.
The property, located at 1717 Koppers Road, is a single-tenant building situated on 3.07 acres.
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The companies said the site represents a value-add acquisition opportunity in one of the region’s most land-constrained logistics corridors.
Firestone has secured a new five-year triple-net lease with a major truck transporter, highlighting the property’s strategic importance for logistics and distribution.
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“This transaction is highly emblematic of our value-add strategy and operating playbook,” Marc Hedrick, Partner at Firestone Partners, said in a statement. “The supply-demand fundamentals in Atlanta remain highly favorable, and this asset fits squarely within our investment thesis of pursuing infill, functional product in growth corridors.”
The acquisition includes plans for a comprehensive capital improvement program.
This will involve a full office replacement, installation of a new sprinkler system, roof and exterior upgrades, lighting enhancements, and addressing other deferred maintenance projects.
These improvements aim to deliver a fully stabilized, cash-flowing asset immediately post-closing, enhancing the property’s long-term marketability and value.
“Firestone’s deep local expertise and institutional pedigree made them an ideal partner for this transaction,” Matt Kay, Principal and Co-Founder of Matterhorn Venture Partners, said. “This acquisition is highly complementary to our national portfolio, and we believe strongly in Firestone’s ability to execute on their shallow bay industrial acquisition strategy across the Southeast and to scale meaningfully over time.”
With the planned improvements and strategic leasing, the joint venture aims to enhance the property’s value and marketability, aligning with the partners’ investment strategies in high-growth industrial submarkets.
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