A Roswell-based investment group recently purchased an industrial site in Forsyth County for $6.1 million.
In a news release, officials with Denali Investment Group, LLC, recently announced the acquisition of the Forsyth Business Center, located on about five acres at 1420 Redi Road.
“The industrial market has shown steady growth over the past year,” Denali Managing Director Jason Chaliff said in the release. “This facility is prominently located in a business-friendly community where the appetite for industrial space is on a steep incline.
“Notably, the submarket has a 3.89% industrial vacancy rate, making this a rare find. The previous tenant, American Boa, occupied the space for 50 years and we seized this rare opportunity to acquire prime flex space in a booming market.”
Company officials said the plan is to use the facility as separate, smaller suites starting at 8,000 square feet and “a sweeping interior makeover is underway to modernize the space to enhance functionality for highly sought-after flex space.”
The renovation is expected to be completed by this fall.“We expect this acquisition to be a win-win for investors and tenants,” said Denali Managing Director Michael Godin. “As a key player in this space, we are excited about creating and building new relationships. This is a premium location for regional businesses – it is in proximity to an affluent population and offers the perfect environment for sustained growth. We are confident Forsyth Business Center will attract a diverse base of strong tenants.”