Investment in Kennesaw Submarket Continues to Pay Dividends

Investment in Kennesaw Submarket Continues to Pay Dividends

Glenfield Capital has completed the sale of 2124 Barrett Park Drive in Kennesaw to KNAPP Logistics Automation. This 103,000-square-foot acquisition of the 2124 building follows KNAPP’s purchase of 2120 Barrett Park Drive in April 2017. KNAPP’s success had them already outgrowing the 2120 building, which has a capacity for up to 300. Glenfield originally acquired these two buildings, comprising 151,000 square feet, in 2013 and maintained 100% occupancy for over 5 years.

Since the purchase of 2120 Barrett Park Drive, KNAPP has been “experiencing significant growth in the North American market and is forecasting the need for additional personnel, particularly in the areas of mechanical and electrical engineering, system design engineering, software, project management, sales and administration,” according to Gernot Rupp, Vice President of Operations.

The subsequent sale of 2124 Barrett Park Drive reinforces Glenfield’s belief in the strength of Kennesaw, which continues to be one of Atlanta’s top submarkets in recent years and promises steady growth into the future. “We were very fortunate to purchase Barrett Park Drive in 2013. This investment far exceeded our projections and will be difficult to replace. KNAPP is a dynamic company, and we wish them continued success,” said James Cate, Managing Principal of Glenfield Capital.

ABOUT GLENFIELD CAPITAL

Glenfield Capital is a private real estate investment company based in Atlanta, Georgia. Its principals have decades of real estate investment experience, including more than $1 billion in advisory and principal activities. Glenfield’s current portfolio includes over 900,000 square feet in the southeastern United States. The company evaluates numerous investment opportunities throughout the Southeast on an ongoing basis, including office and industrial opportunities. For more information, please visit www.glenfieldcapital.com.