FOR IMMEDIATE RELEASE
May 23, 2000
HARBOR GROUP INTERNATIONAL ACQUIRES
PRIME DISTRIBUTION BUILDING IN ATLANTA
Acquisition Taps into Growing Demand for
Quality Distribution Facilities
 Norfolk,
Virginia based Harbor Group International has added the
AIP Distribution Center in Atlanta, Georgia, located in
Atlanta Industrial Park, to it’s growing list of
high quality buildings in the United States. The property
was purchased from First Industrial Realty Trust, Inc.,
a New York Stock Exchange REIT, for $6.9 million.
“With our purchase of this facility, we successfully
diversified our investment portfolio,” says Jordan
E. Slone, Chairman of Harbor Group International. “Class ‘A’ distribution
facilities in a city such as Atlanta are in demand from
not only the traditional users, but also a fast-growing
new crop of e-commerce firms. In fact, Internet retail
giant Amazon.com is building a 700,000 square foot distribution
facility in close proximity to Harbor Group International’s
property.”
Built in 1986, AIP Distribution Center contains 408,819
square feet of leasable space. It features high ceilings,
rail access, and well-manicured landscaping. The property
also has the potential to expand by 50,000 square feet.
The structure is fully leased to distribution tenants
including Logi-Trans, Graham Packaging, United General
Foods, A.A.G. General, and Li-Way Transfer and Storage.
Harbor Group International owns office buildings, shopping
centers, and apartment throughout the United States and
the United Kingdom.
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