Equus Capital Partners Acquires 569,132-Square-Foot Allatoona Business Center in Cartersville, Georgia
Equus Capital Partners, Ltd. has completed the acquisition of Allatoona Business Center, a three-building, 569,132-square-foot Class A industrial park located in Cartersville, Georgia, within the Atlanta metropolitan area. The transaction was completed through a programmatic joint venture, the firm announced Aug. 5.
Asset Overview and Physical Specifications
Completed in 2024, Allatoona Business Center comprises three rear-load logistics facilities positioned within Atlanta's I-75 North Industrial submarket. The park offers institutional-quality specifications including 32-foot clear heights, ESFR sprinkler systems, LED warehouse lighting, 185-foot truck courts, 60-foot concrete aprons, tilt-wall concrete construction, and 45-mil TPO roofing systems.
Suite configurations range from approximately 23,000 square feet to 191,000 square feet, enabling the park to accommodate logistics, distribution, light manufacturing, and transportation users across a range of footprint requirements. At the time of acquisition, the portfolio was 88.5% leased to seven tenants, leaving roughly 65,000 square feet of available space.
Location and Submarket Dynamics
Allatoona Business Center sits within the I-75 North Industrial submarket, one of the largest industrial submarkets in the Atlanta region. The property has direct access to U.S. Highway 41 and is approximately 3.5 miles from Interstate 75, providing connectivity to the broader Atlanta MSA and throughout the Southeastern United States.
The I-75 North submarket is characterized by limited developable land in infill locations, a condition that creates barriers to entry and supports sustained demand for well-located Class A industrial product. Atlanta's broader industrial market benefits from strong population growth, a diverse employment base, and extensive transportation infrastructure, factors that have reinforced the metro's standing as a major logistics hub.
Value-Add Investment Thesis
Equus Capital Partners is pursuing a value-add strategy at Allatoona Business Center, with below-market in-place rents identified as the primary driver of future income growth. As existing leases roll, the firm expects to mark rents to current market levels, capturing the spread between contracted rates and prevailing market rents in the submarket.
The remaining vacancy provides an additional leasing opportunity at current market rates, while the seven-tenant roster reduces single-tenant concentration risk and supports a flexible leasing approach across the park's varied suite configurations.
"Allatoona Business Center presented us with the opportunity to acquire three best of class industrial assets with strong occupancy in one of Atlanta's most in demand industrial submarkets," said Tim Feron, Senior Vice President of Acquisitions at Equus Capital Partners. Feron, along with Tucker Scaringe and Alex Mazur, Associates, oversaw the acquisition for the firm. "The portfolio's diversified tenant base and below-market in-place rents should provide an opportunity for future income growth. Atlanta continues to benefit from strong population growth and a favorable business climate, and the property's access to major distribution corridors positions it well to capitalize on continued industrial demand."
Equus Capital Partners' Broader Industrial Platform
The Cartersville acquisition reflects Equus Capital Partners' continued expansion of its national industrial portfolio, with a focus on well-located, income-producing assets in high-growth markets. The firm has executed comparable transactions in other regions, including a six-building, 576,852-square-foot logistics portfolio in Upper Marlboro, Maryland, acquired for $102.6 million, and Greylyn Business Park, a 19-building, 648,060-square-foot industrial park in Charlotte, acquired for $102 million. Equus has also announced an industrial portfolio acquisition exceeding $1.15 billion in Arizona.
Across these transactions, Equus has consistently targeted assets with value-add potential through operational improvements, rent mark-to-market, and lease-up of existing vacancy — a playbook the firm is applying at Allatoona Business Center. Purchase price and cap rate for the Cartersville acquisition were not disclosed.