Lincoln Property Company Acquires 1.09M-SF Shiloh Light Industrial Portfolio in Alpharetta, Georgia

DALLAS — Lincoln Property Company announced Oct. 13 that it has acquired the Shiloh Light Industrial Portfolio, a 1,085,294-square-foot, 10-building Class A light industrial portfolio in Alpharetta, Georgia, in the Atlanta metropolitan area. The portfolio is 100% leased to 21 tenants, the firm said.

Lincoln, a global, full-service real estate firm, said the purchase is part of its continued expansion in high-barrier-to-entry U.S. logistics markets. The firm was awarded the transaction in August 2026, and the portfolio is the fourth acquisition for Lincoln Logistics Fund II.

Shiloh Light Industrial Portfolio: Property Details

The portfolio's 10 buildings were built between 1995 and 2000. They feature 18- to 23-foot clear heights, functional truck courts, strong parking and dock ratios, and power capacity suited to modern logistics and light manufacturing tenants, according to Lincoln. About 24% of the space is finished office.

The 21 tenants are engaged in last-mile logistics, light manufacturing and specialty distribution. Lincoln said they are drawn to the corridor's access to skilled labor and above-standard power availability.

Alpharetta and Atlanta's Technology Corridor

The portfolio sits in Alpharetta, part of the submarket known locally as Atlanta's "Technology Corridor." Lincoln said Forsyth County's population has grown at nearly five times the U.S. average over the past five years, while Fulton County's growth has been almost double the national rate. The firm said this expands the labor pool and consumer base on which the portfolio's tenants depend. It also cited the Atlanta metro's ranking among the nation's top employment-growth markets over the same period.

"The Alpharetta submarket combines strong population and employment growth with above-standard power capacity that is increasingly difficult to find in infill logistics locations," said Gary Kobus, Senior Managing Director and Co-Head of Lincoln's Logistics platform. "Acquiring this portfolio of this quality and size with favorable economics gives us a strong foundation to drive value as leases roll."

Value-Add Strategy and Lincoln Logistics Fund II

Lincoln said its plan for the portfolio is to convert single-tenant space to multi-tenant configurations, modernize the buildings, and drive long-term occupancy and rent growth.

"This portfolio's combination of functional building design, strong power infrastructure and a well-located position along Atlanta's Technology Corridor makes it an ideal fit for our value-add strategy," said Edward Neblett, Senior Vice President at Lincoln. "Our Atlanta team looks forward to leveraging its local market expertise to convert single-tenant space to multi-tenant configurations, modernize the buildings and drive long-term occupancy and rent growth."

Lincoln said the acquisition reflects its strategy of buying functional, well-located industrial assets at a basis in line with replacement cost.

Lincoln Logistics Fund II launched with a $1 billion fundraising target and had raised $280 million at its first close in May 2026. Its other disclosed acquisitions include Deerfield Corporate Park in Deerfield Beach, Florida, a roughly 252,000-square-foot, four-building Class A light industrial property that was 94% leased to 20 tenants and was acquired for $80.9 million, and a Tacoma, Washington, distribution center acquired for $40 million in July 2026.

Atlanta Industrial Market Context

The acquisition comes as Atlanta's industrial market shifts from an undersupplied, landlord-favorable environment toward greater balance. JLL reported 9% industrial vacancy in the second quarter of 2026, while Savills reported 10% vacancy in the third quarter, down 60 basis points year over year. Average asking rents reached roughly $7.42 to $7.43 per square foot, with Savills reporting a 4.9% year-over-year increase and rents nearly 60% above third-quarter 2021 levels.

New supply is the principal market risk. About 19.1 million square feet was under construction in the third quarter of 2026, nearly 50% more than in the same period of 2025, according to Colliers data. Atlanta also recorded three leases of more than 1 million square feet during the quarter, including transactions involving Nike, TikTok and Google.

The Shiloh portfolio's full occupancy and smaller-building format serve a broader tenant base than very large distribution facilities, and its 21 tenants reduce reliance on any single occupier. Its 24% finished-office component may suit manufacturing, service and specialty-distribution users that need office or technical space, though it may also limit the warehouse area available to conventional logistics tenants.

About Lincoln Property Company

Lincoln Property Company is one of the largest private real estate firms in the United States, offering an integrated platform of real estate services to owners, investors, lenders and occupiers. The firm operates across office, multifamily, life science, retail, industrial, data center, production studio, healthcare, government, higher education, sports and entertainment, and mixed-use properties in the United States, the United Kingdom and Europe. Its combined management and leasing portfolio on behalf of institutional clients includes more than 720 million square feet of commercial space.

Sources

Lincoln Property Company press release, Oct. 13, 2026: https://lpc.com/press-releases/shiloh-light-industrial-portfolio/