Plymouth Industrial REIT Strengthens Atlanta Holdings with New Acquisition

Author: Hannah Lewis Updated: 05-28-2025 04:28 PM

Plymouth Industrial REIT Enhances Its Atlanta Portfolio

Plymouth Industrial REIT, Inc. (NYSE: PLYM) is making significant strides in expanding its presence in the Atlanta industrial real estate market. The Company has recently acquired a substantial 100,420-square-foot warehouse facility, which is fully leased to a prominent provider of self-care products and solutions.

Details of the Acquisition

This strategic move, valued at $11.7 million, showcases Plymouth's dedication to securing high-quality assets that promise impressive yield. The acquisition boasts an initial net operating income (NOI) yield of 6.95%, making it a noteworthy addition to the Company's portfolio. The property features a triple net lease, with 3% annual rent escalations, underscoring its long-term value.

Modern Facility with Essential Features

Constructed in 2014, the facility exemplifies modern industrial space, designed with tilt-wall construction and impressive 30-foot clear heights. Moreover, the space is equipped with 100% climate control, an essential feature for the operations of the tenant. This acquisition is a perfect alignment with Plymouth's strategy of focusing on enhancing their existing presence in Atlanta.

Expanding into Core Markets

The new addition brings Plymouth's total footprint in the Atlanta market to an impressive 15 buildings, increasing their total space to approximately 2.5 million square feet. Jeff Witherell, the CEO and Co-Founder of Plymouth Industrial REIT, emphasized the Company’s ongoing commitment to identifying profitable opportunities in key markets. With a keen focus on well-located, functional infill industrial properties, he expressed confidence in the long-term returns that these acquisitions will deliver.

About Plymouth Industrial REIT

Plymouth Industrial REIT, Inc. (NYSE: PLYM) is a publicly traded real estate investment company that actively acquires, owns, and manages both single and multi-tenant industrial properties. The Company aims to provide tenants with functional, flexible, and safe spaces that meet their diverse operational needs.

Frequently Asked Questions

What recent acquisition did Plymouth Industrial REIT announce?

Plymouth Industrial REIT announced the acquisition of a 100,420-square-foot warehouse facility in Atlanta for $11.7 million.

What are the features of the newly acquired facility?

The facility features modern tilt-wall construction, 30-foot clear heights, and 100% climate control.

What is the duration of the lease for the new warehouse?

The lease for the property is secured through May 2030 and includes annual rent escalations.

How does this acquisition fit into Plymouth's strategy?

The acquisition aligns with Plymouth's strategy to target high-quality, well-located industrial assets in core markets to enhance long-term yields.

What is the total space Plymouth now owns in Atlanta?

With this acquisition, Plymouth Industrial REIT now has a total of approximately 2.5 million square feet across 15 buildings in the Atlanta market.

About The Author

Hi there, I'm Hannah Lewis, a writer and financial specialist of 36 years old committed to making money understandable and approachable to everyone. Years of working in the field have given me a thorough grasp of market trends, investment techniques, and economic fundamentals. My objective is to enable people, by means of understandable, useful guidance, to take charge of their financial destiny.

I have written many articles for financial blogs over my career that simplify difficult financial ideas into understandable insights. Being financially literate is a critical ability, and I am passionate about enabling people to confidently manage their financial lives. Regardless of your level of experience, my work will help you at every stage of the investment process. I appreciate being allowed to share in your success and financial expansion.

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