In the Summer of 2005, AIP Properties purchased 12.7 acres of industrial property in the City of Sugar Hill, Georgia. The development of the site consist of two 60,000 square foot multi-tenant industrial buildings. Located on a major state highway and thoroughfare the property is approximately three miles from diamond interchanges for US Highways I-985 and I-85. The site provides significant exposure to Georgia Highway 20, which the D.O.T currently estimates has a 50,000 car per day traffic count.
Phase I of the project was completed in August 2006. Construction of Phase II was completed in the Fall of 2007. Upon completion, the property was sold to Harbor Avenue Home Store. The purchase price provided AIP Properties’ investors a 23% return on cost.