Colliers Arranges $27.5 Million Sale of Atlanta Cold Storage Facility
Colliers has arranged the $27.5 million sale of a Class A cold storage facility located at 109 Thompson Road in Hiram, Georgia, in the Northwest Atlanta submarket. LM Real Estate Partners acquired the newly constructed, 99,750-square-foot tri-temperature asset from Jones Development, a Kansas City-based industrial developer. Colliers also arranged acquisition financing on behalf of the buyer.
Deal Details
The facility, completed in 2026, is 100% leased to Hungryroot, an AI-powered grocery and meal delivery platform that uses the property as its Southeast U.S. distribution hub. The asset features freezer, refrigerated and ambient storage components — a tri-temp configuration — along with 32-foot clear heights, advanced refrigeration infrastructure and a 130-foot truck court. At a sale price of $27.5 million across 99,750 square feet, the transaction equates to approximately $276 per square foot.
Hungryroot has invested more than $6.3 million into the facility, including material handling systems, refrigeration enhancements, slab reinforcement and operational infrastructure.
Colliers Capital Markets advisors Robyn Hurrell, Kyle Kidd, Alex Cantu and Alex Davenport represented the seller in the transaction. Colliers' Debt & Structured Finance team, including Nathan Lynch and Michael Sogluizzo, arranged acquisition financing on behalf of LM Real Estate Partners.
Buyer's Investment Thesis and Fund III Strategy
LM Real Estate Partners, described as one of the largest private real estate investment firms focused on industrial and logistics real estate across the Southeast, acquired the asset through its Fund III vehicle.
"This acquisition represents the Fund III thesis of targeting quality logistics real estate in supply-constrained Southeast markets, anchored by high-growth tenants using the asset as a regional distribution hub," said Jared Marcus, co-founder and partner of LM Real Estate Partners. "Atlanta's position as a last-mile gateway to the Southeast, combined with a near-zero vacancy environment for modern cold storage, is exactly the kind of demand-driven fundamental we built Fund III to capture."
Robyn Hurrell, executive vice president at Colliers, commented on the investment rationale. "This was ultimately a tenant conviction and credit-driven investment thesis centered around the long-term growth of AI-powered grocery fulfillment and direct-to-consumer food distribution," Hurrell said. "Hungryroot has built a highly differentiated platform with significant operational investment in this facility, and investors responded strongly to both the real estate and the underlying business trajectory."
Atlanta Cold Storage Market Context
According to Colliers research included in the offering memorandum, all post-2005 cold storage facilities in the Atlanta market are currently fully occupied. The property provides access to major transportation corridors, including Interstate 20, Interstate 75 and U.S. Highway 278, supporting regional and national distribution capabilities.
"The transaction demonstrates continued institutional demand for specialized industrial product types despite broader capital markets volatility," Hurrell said. "Atlanta remains one of the nation's most active logistics hubs, supported by population growth, infrastructure investment and access to major distribution networks."
Sources
Colliers — "Colliers arranges $27.5 million sale of cold storage facility in Atlanta," June 8, 2026