News
Dermody Properties Announces an Acquisition and New Development in North Atlanta
Dermody Properties is pleased to announce the acquisition of 3851 Lakefield Drive in Forsyth County, Georgia, a 61,000 square-foot logistics facility located in one of Atlanta’s most populated suburban areas. The acquired property also includes a 10-acre development site, where Dermody Properties will develop LogistiCenter® at South Forsyth, a new 93,320 SF state-of-the-art Class A logistics facility.
Dermody Properties purchased 3851 Lakefield Drive and the adjacent 10-acres from Florida Food Products, LLC, a Florida-based leading agribusiness, who is consolidating operations to another regional facility. The property is located in South Forsyth County, with strong infrastructure to provide access to Georgia State Route 400 to the west and Interstate 85 to the east.
“This infill property is a great addition to our growing list of logistics offerings in the Southeast,” said Wes Hardy, Southeast Region Partner at Dermody Properties. “The South Forsyth and surrounding communities of Alpharetta, Johns Creek and Suwanee are highly land constrained and future industrial development will be minimal. We expect this strategic location to allow us to meet our customers’ needs.”
Situated on 4.5 acres, the existing 61,000 SF facility at 3851 Lakefield Drive features above-standard enhancements that will be attractive to customers, including upgraded office space, 12,000 amps of power, a 10-inch floor slab and a 105 mil roof. It is currently available for lease and immediate occupancy.
LogistiCenter® at South Forsyth will be developed on the adjacent 10-acres of industrial zoned land and will feature 93,320 SF of Class A logistics space tailored to the local community. The facility will be ideal for a wide variety of uses, including advanced manufacturing, distribution and warehousing. LogistiCenter® at South Forsyth will commence construction in early 2025 and be available for occupancy in Q4 2025.
“South Forsyth’s strategic location within the Atlanta metropolitan area, combined with its strong demographics, plentiful workforce and robust infrastructure, make it an ideal choice for companies seeking to expand their operations in the Southeast,” said Tim Walsh, Partner and Chief Investment Officer for Dermody Properties. “This existing facility and our plans for LogistiCenter® at South Forsyth continue Dermody Properties’ Southeast investment strategy of developing great infill locations.”
Dermody Properties represented itself in this transaction and the seller, Florida Food Products, LLC, was represented by Matt Wirth and Jim Freeman in the Atlanta office of JLL Capital Markets, Americas.
Dermody Properties currently has eight properties available in its Southeast Region, offering over 896,000 SF of logistics space. The facility, 3851 Lakefield Drive, is currently available for lease and occupancy and LogistiCenter® at South Forsyth will be available for occupancy in Q4 2025. For more information on all available properties in the Southeast, please visit the region page on the Dermody Properties website.