Third & Urban has sold Northridge Commons, a seven-building flex industrial campus in Sandy Springs, Georgia. The sale was made to BKM Capital Partners and Kayne Anderson Real Estate. The company made the sale after improving the property’s occupancy.
Third & Urban Sells Sandy Springs Industrial Campus After Boosting Occupancy
Third & Urban has announced the sale of Northridge Commons to BKM Capital Partners and Kayne Anderson Real Estate. The 471,000-square-foot flex industrial campus is located at 8601 Dunwoody Place near GA-400. Third & Urban acquired Northridge Commons in February 2025 and later repositioned portions of the property for flex industrial tenants.
Kayne Anderson Real Estate is the real estate investment arm of Kayne Anderson. It invests in properties across sectors such as medical offices, senior housing, student housing, multifamily residential buildings, and self-storage.
When Third & Urban purchased the campus, it was 83% leased to office, flex, and warehouse tenants, including Inspire Brands and Invitation Homes. During its ownership, Third & Urban converted underused office space to attract flex industrial tenants, increasing occupancy to 90% before the sale.
According to Third & Urban co-founder Pierce Lancaster, the company focuses on properties that need improvements and repositioning to increase their value. The firm continues to look for opportunities in the office, flex, retail, and mixed-use sectors across the Southeast.
Nathan Williams of Scotland Wright Associates handled the transaction for both the buyer and seller. Newmark managed leasing for the property, while Trinity Partners provided property management services.
Third & Urban’s Portfolio and Development Pipeline
The Atlanta-based company focuses on developing and repositioning office, retail, and residential properties. The company aims to transform underused spaces into destinations that support local communities and businesses.
Third & Urban’s portfolio includes Dunwoody Park and the GA 400 Center. The former is an 18-acre office campus in Dunwoody, and the latter is a 430,000-square-foot office campus in Alpharetta. The company also owns the Atkins Park Collection, which is a street retail portfolio in Atlanta’s Virginia-Highland neighborhood.
Its development pipeline includes more than 3.2 million square feet of projects valued at $1.4 billion across the Southeast. These include Hillcrest, which is an 8.1-acre mixed-use development in Sandy Springs. It also includes Northbend, which is a 32-acre redevelopment of the former Corporate Square in Brookhaven.
