Consolidated Asset Management Services, LLC (CAMS) and the Integral Group (Integral), co-owners of Assembly, one of the most significant commercial real estate projects in metro Atlanta, today announced it completed the sale of the remaining 127 acres of the 165-acre site of the former GM plant located in DeKalb County, Ga.
CAMS and Integral jointly negotiated the terms of the Purchase and Sale Agreement to Pearl Railroad Assembly Yard, LLC for the remaining, undeveloped parcels of the largest mixed-use, transit-oriented development in the Southeast United States.
CAMS along with Integral, its Atlanta-based development partner, acquired Assembly, the 165-acre property located near I-285 and I-85, in 2014 from GM. The former GM plant had sat vacant for seven years without a practical plan for redevelopment. CAMS and Integral utilized private capital exclusively to clear the way for one of metro Atlanta's largest redevelopment projects.
CAMS led the effort to dismantle the 4 million-square-foot facility in an environmentally friendly and safe manner, and in record time – less than 10 months. Approximately 150,000 tons of buildings, concrete, steel, and related materials were recycled and repurposed. Installation of all utilities, such as water, sewer, power, and fiber optics in accordance with the city’s approved Master Plan, were then completed. The development plans included townhomes, multi-family units, food halls, a rail park, hotel workspaces and public spaces.
Assembly is designed as a sustainable and progressive mixed-use community, focused on meeting the needs and desires of its citizens and neighbors. It is well-positioned to drive regional economic development for decades to come. Third Rail Studios, a film and production company, has had a location at the site since 2016. Two other companies, Serta Simmons Bedding and Asbury Automotive, also purchased Assembly property from CAMS and Integral to develop facilities.
“This successfully concludes our investment in this complex project,” said Joseph W. Sutton, CEO of CAMS. “We are excited about the new opportunities it provides for the City of Doraville and DeKalb County.”
About CAMS
CAMS is a privately held company providing a full range of services in the energy sector. These services include lifecycle management of Environmental, Social, and Governance (ESG) issues for all facility and industry types. Our founding principle is to add value through superior management and operation of our clients’ energy infrastructure assets. To this end, we empower our employees to pursue creative and sustainable business practices in the field and at our corporate office that contribute to operational excellence, financial performance, a safe workplace, and a better community and environment. We do not take this responsibility lightly: We treat the assets with which we are entrusted as our own. For additional information, visit www.camstex.com.
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Contacts:
Deanna Werner
713.358.9736 | dwerner@camstex.com
