A Boston-based firm is adding Upper Westside property to its portfolio.
Sign up now to get our Daily Breaking News Alerts
The Davis Companies has purchased three advanced research and development buildings in Atlanta from Jamestown. The portfolio, consisting of 1401 and 1435 Hills Place NW and 1357 Collier Road NW, totals 235,108 rentable square feet.
The majority of the portfolio is occupied by Anduril Industries, an American defense technology company specializing in advanced autonomous systems.
“Acquiring this state-of-the-art facility, in this dynamic Atlanta submarket, underscores our commitment to building an institutional quality high-tech research and development portfolio,” Brendan Richards, Vice President of Investments at Davis, said in the announcement. “The strategic location, coupled with a thriving talent pool from surrounding institutions and universities, ensures this campus will continue to support innovation and growth of advanced R&D and manufacturing efforts in the region. This acquisition is the latest milestone in Davis’ track record of well-positioned investments that offer premier tenant experiences in a market seeing growing demand.”
Jamestown had acquired the properties as a mixed-use office and retail development before they redeveloped the property to accommodate the current tenant.
“Our vision was to reposition these former industrial buildings for today’s innovation economy,” said Jamestown CEO Matt Bronfman. “Having completed extensive infrastructure and utility upgrades to the buildings and fully leased the space, we saw an opportunity to leverage that status in the market.”
Davis is a vertically integrated real estate investment, development and management firms headquartered in Boston. The firm has a real estate portfolio of approximately 13.9 million square feet of healthcare and life science, industrial, retail, office and hospitality properties and more than 5,900 residential units across the U.S.