“When we decided to look at a major disposition in the Atlanta area, we called on the SWA Team to handle the transaction. Their process led to smooth closing and delivered a better-than-expected result. Web Industries always looks for trusted partners, and we are happy to say that SWA has been a trusted partner for our real estate needs in Atlanta.”
- John MacInnes, CFO and VP of Finance
Details
Transaction Type: Capital Markets
Square Footage: 250,000
Story
The global specialty manufacturer, Web Industries, engaged SWA to assist with the disposition of a 250,000 square-foot warehouse in Suwanee, GA. With strict confidentiality protocols in place, Web Industries asked SWA to execute a quiet marketing process that maximized value and allowed them to retain control of the asset on the lease-back. SWA executed an auction that resulted in a purchase price of $30 million ($5 million higher than the target), with a 3.9% cap rate and allowed Web to control their space for 20+ years with only a seven-year firm lease commitment. Through SWA’s 60-day process, WEB was able to nearly triple their investment from the original acquisition and redeploy capital into their growing business.