Investment in Kennesaw Submarket Continues to Pay Dividends
Glenfield Capital has sold its office building located at 2120 Barrett Park Drive to KNAPP Logistics Automation.
Glenfield originally purchased this asset as part of a two building office portfolio in 2013. At the time of the purchase, the portfolio was 100% leased to two tenants, including KNAPP. KNAPP, a leading global provider of intelligent automated warehouse solutions and warehouse logistics software, has experienced dynamic growth in recent years, evidenced by their expansion from 23,000 SF to nearly 50,000 SF.
Glenfield’s initial attraction to this investment was largely due to the strength of the Kennesaw office submarket. This theory proved prescient with this transaction, as KNAPP determined purchasing the 2120 Barrett Park building was the best solution for its long-term office needs. KNAPP now has the capacity to grow their workforce up to 300 over time. This location will also be home for the company’s technology demonstrations, showroom and training facilities.
With this sale, Glenfield has once again proved to be a best in class owner and asset manager with the performance of this investment eclipsing projections.
ABOUT GLENFIELD CAPITAL
Glenfield Capital is an Atlanta, Georgia based private real estate investment company and asset manager. 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 US. For more information please visit www.glenfieldcapital.com.