Plymouth Industrial REIT Expands Portfolio in Atlanta

Rhea-AI Summary

Plymouth Industrial REIT (NYSE: PLYM) has acquired a 100,420-square-foot single-tenant warehouse facility in southwest Atlanta for $11.7 million, with an initial NOI yield of 6.95%. The modern facility, built in 2014, is fully leased through May 2030 to a consumer self-care products provider, featuring a triple net lease with 3.0% annual rent escalations.

The property includes tilt-wall construction, 30-foot clear heights, and 100% air conditioning/climate control. This acquisition expands Plymouth's Atlanta market presence to 15 buildings totaling approximately 2.5 million square feet. The company has closed on $76.8 million of acquisitions year-to-date, focusing on well-located, infill industrial assets at discounts to replacement cost.

Positive

• Acquisition secured at 6.95% NOI yield with long-term lease through 2030
• Triple net lease structure with 3.0% annual rent escalations provides stable income growth
• Property features modern specifications and is 100% occupied
• Strategic expansion in Atlanta market, growing portfolio to 2.5 million square feet
• Purchase price represents discount to replacement cost

Negative

• None.

News Market Reaction

+1.80%

1 alert

+1.80% News Effect

On the day this news was published, PLYM gained 1.80%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Closed on $76.8 Million of Acquisitions Year-to-Date

BOSTON, May 28, 2025 (GLOBE NEWSWIRE) -- Plymouth Industrial REIT, Inc. (NYSE: PLYM) (the “Company”) today announced the acquisition of a 100,420-square-foot single-tenant warehouse facility in southwest Atlanta, GA for $11.7 million, representing an initial net operating income (“NOI”) yield of 6.95%.

The property is fully leased through May 2030 to a leading consumer self-care products and solutions provider. The lease is triple net and features 3.0% annual rent escalations.

Built in 2014, the modern facility features tilt-wall construction, 30-foot clear heights, and 100% air conditioning / climate control – features essential to the tenant's operation. This acquisition complements the Company’s existing 400,000-square-foot Peachtree City portfolio and brings the Company’s total footprint in the Atlanta market to 15 buildings totaling approximately 2.5 million square feet.

Jeff Witherell, CEO and Co-Founder of Plymouth Industrial REIT, noted, “We continue to identify accretive opportunities to scale in our core markets by targeting well-located, highly functional infill industrial assets. We expect acquisitions like this, secured at meaningful discounts to replacement cost and supported by strong fundamentals, to provide attractive risk-adjusted returns and align with our long-term strategy.”

About Plymouth
Plymouth Industrial REIT, Inc. (NYSE: PLYM) is a full service, vertically integrated real estate investment company focused on the acquisition, ownership and management of single and multi-tenant industrial properties. Our mission is to provide tenants with cost-effective space that is functional, flexible and safe.

Forward-Looking Statements 
This press release includes “forward-looking statements” that are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933 and of Section 21E of the Securities Exchange Act of 1934. The forward-looking statements in this release do not constitute guarantees of future performance. Investors are cautioned that statements in this press release, which are not strictly historical statements, including, without limitation, statements regarding management's plans, objectives and strategies, statements regarding NOI yields, as well as statements regarding the timing of the consummation of the transactions, if at all, and the anticipated benefits therefrom, constitute forward-looking statements. Such forward-looking statements are subject to a number of known and unknown risks and uncertainties that could cause actual results to differ materially from those anticipated by the forward-looking statements, many of which may be beyond our control. Forward-looking statements generally can be identified by the use of forward-looking terminology such as “may,” “plan,” “seek,” “will,” “expect,” “intend,” “estimate,” “anticipate,” “believe” or “continue” or the negative thereof or variations thereon or similar terminology. Any forward-looking information presented herein is made only as of the date of this press release, and we do not undertake any obligation to update or revise any forward-looking information to reflect changes in assumptions, the occurrence of unanticipated events, or otherwise.

Contacts:
Plymouth Industrial REIT, Inc.
Ethan Farris
IR@plymouthreit.com

FAQ

What is the value and size of PLYM's latest acquisition in Atlanta?

Plymouth Industrial REIT acquired a 100,420-square-foot warehouse facility in southwest Atlanta for $11.7 million.

What is the lease term and structure for PLYM's new Atlanta property?

The property is fully leased through May 2030 with a triple net lease structure and 3.0% annual rent escalations.

How many properties does PLYM now own in the Atlanta market?

Plymouth Industrial REIT now owns 15 buildings totaling approximately 2.5 million square feet in the Atlanta market.

What is the initial NOI yield for PLYM's new Atlanta warehouse acquisition?

The initial net operating income (NOI) yield for the acquisition is 6.95%.

How much has PLYM spent on acquisitions year-to-date in 2025?

Plymouth Industrial REIT has closed on $76.8 million of acquisitions year-to-date in 2025.