Colliers announced the $27.5 million sale of a cold storage facility fully leased to Hungryroot located at 109 Thompson Road in Hiram, Georgia, in the Northwest Atlanta submarket.

LM Real Estate Partners acquired the newly constructed 99,750-square-foot Class A tri-temp asset from Jones Development Company, a Kansas City-based industrial developer.

The facility is 100% leased to Hungryroot, an AI-powered grocery and meal delivery platform using the property as its Southeast U.S. distribution hub. The facility includes freezer, refrigerated and ambient storage components and serves as a mission-critical node within Hungryroot’s national logistics network.

“This was ultimately a tenant conviction and credit-driven investment thesis centered around the long-term growth of AI-powered grocery fulfillment and direct-to-consumer food distribution,” said Robyn Hurrell, executive vice president at Colliers. “Hungryroot has built a highly differentiated platform with significant operational investment in this facility, and investors responded strongly to both the real estate and the underlying business trajectory.”

Completed in 2026, the site features 32-foot clear heights, advanced refrigeration infrastructure, a 130-foot truck court and significant tenant-funded operational investments. Hungryroot has invested more than $6.3 million into the facility, including material handling systems, refrigeration enhancements, slab reinforcement and operational infrastructure.

“This acquisition represents the Fund III thesis of targeting quality logistics real estate in supply-constrained Southeast markets, anchored by high-growth tenants using the asset as a regional distribution hub,” said Jared Marcus, co-founder and partner of LM Real Estate Partners. “Atlanta’s position as a last-mile gateway to the Southeast, combined with a near-zero vacancy environment for modern cold storage, is exactly the kind of demand-driven fundamental we built Fund III to capture.”

The property provides access to major transportation corridors, including Interstate 20, Interstate 75 and U.S. Highway 278, supporting efficient regional and national distribution capabilities. According to Colliers research, all post-2005 cold storage facilities in the Atlanta market are currently fully occupied, highlighting continued tenant demand and limited institutional-quality supply.

“The transaction demonstrates continued institutional demand for specialized industrial product types despite broader capital markets volatility,” Hurrell said. “Atlanta remains one of the nation’s most active logistics hubs, supported by population growth, infrastructure investment and access to major distribution networks.”