Ram Realty Services Purchases Home Depot Landscape Supply Portfolio in Atlanta and Dallas for $22 Million
February 6, 2008
FOR IMMEDIATE RELEASE
Thorp & Company
Palm Beach Gardens, Fla., Feb. 6, 2008 – Ram Realty Services, a leader in real estate development and acquisitions, today announced that it has purchased 11 Home Depot Landscape Supply stores totaling 74.4 acres in Atlanta and Dallas from Home Depot.
Home Depot closed all their landscape supply stores in November of last year. Ram Realty Services is evaluating the portfolio to determine which sites will be sold to strategic users in the two markets and which will be redeveloped. The sites range in size from 4.5 to 9 acres and contain a former Landscape Supply store building of approximately 12,000 square feet.
Five properties are located in Atlanta at the following locations:
• 475 Parkway 575 in Woodstock, Georgia
• 1582 Janmar Road in Snellville, Georgia
• 4600 South Cobb Drive in Smyrna, Georgia
• 16840 Old Highway 41 in Kennesaw, Georgia
• 25460 Satellite Blvd. in Duluth, Georgia
Six properties are located in Dallas at the following locations:
• 2460 Highway 121 in Plano, Texas
• 5721 Bryant Irvin Road in Ft. Worth, Texas
• 5301 South Cooper in Arlington, Texas
• 2945 Frankford Road in N. Dallas, Texas
• 4120 William D. Tate Ave. in Grapevine, Texas
• 2620 MacArthur Blvd. in Lewisville, Texas
“This opportunity enabled us to move quickly to purchase an entire portfolio in two strong metropolitan areas at one time, which fits in nicely with our overall strategy,” said Ken Baye, senior vice president of development with Ram Realty Services. “With our Southeastern focus, we will likely sell the Dallas assets; however, certain of the Atlanta locations lend themselves well to our strategy of adding value to infill locations and will likely be redeveloped.”
Ken Baye managed the transaction for Ram Realty Services. Mike Folio, principal with Corporate Property Dispositions, handled the deal for Home Depot.
About Ram Realty Services
Founded 30 years ago, Florida-based Ram Realty Services pursues the acquisition, development, and redevelopment of commercial, multifamily and mixed-use real estate throughout the Southeast, with a focus on the major markets in Florida, Georgia and the Carolinas. Ram Realty Services’ development pipeline now exceeds $750 million, to be funded through the recently launched Ram Realty Partners II. In addition to its development activity, Ram Realty Services acquires existing assets and portfolios where it can add value. Ram Realty Services has offices in Fort Lauderdale and Tampa, FL, Raleigh, NC, and Atlanta, GA, with its corporate office in Palm Beach Gardens, FL. For more information, visit www.ramrealestate.com.