$31.1 Million Acquisition! Dalfen Expands Atlanta Industrial Real Estate

Dalfen Industrial has acquired the warehouse at 4975 Powder Springs Dallas Road in Atlanta for $31.1 million (about $89 per square foot) from High Street Logistics Properties (CoStar).

The 350,000-square-foot property is leased to Leeman Architectural Woodwork, bringing Dalfen’s Atlanta holdings to 2.2 million square feet. Despite vacancies climbing, institutional buyers continue to invest, signaling confidence in the long-term value of Atlanta’s industrial real estate.

In 2021, the asset sold for $21.8 million in a sale-leaseback with Leeman. Just four years later, the price has risen nearly 43%, underscoring sustained appreciation.

Still, CoStar notes that 145,000 square feet of the building is now on the sublease market. Lease agreements may look stable, but real cash flow depends on how quickly subtenants are secured and their ability to pay.

Atlanta Industrial Real Estate Trends

The Dalfen transaction underscores how Atlanta Industrial Real Estate is evolving. According to CBRE Q2 2025, Atlanta’s direct vacancy rate climbed to 8.6%, while average asking rents held at $7.21 per square foot annually. With only 4.9 million square feet under construction—the lowest since 2014—limited new supply could help stabilize the market.

Dalfen said the purchase reflects its focus on core logistics hubs with long-term growth potential. For investors, the message is clear: quality industrial assets in Atlanta remain resilient despite short-term headwinds.