Atlanta’s Inner-City Logistics Hub Finds Success; Signing its Third Major Lease
Despite challenges in recent times, one of Atlanta’s most unique industrial developments, reputed as one of its kind within the city’s Interstate 285 Perimeter in over a decade, is reportedly attracting significant tenants. Stonemont Financial Group, a prominent Atlanta-based real estate investment firm specializing in industrial development, has concluded its third considerable lease at Chamblee International Logistics Park less than half a year after completion.
Construction Completes Near the Historic Downtown
This development debuted near Atlanta’s historic downtown in February, marking an innovative addition to the city’s industrial landscape. The latest signing—a lease for a 45,000-square-foot space with Aramark Refreshments—pushes the occupancy of this unique ITP logistics hub up to about 50 percent. This, according to reports from Stonemont and its venture partner, Seven Oaks Company, reflects positively on the project’s reception in such a short time since its inauguration.
A Look at the Logistics Park and its Newest Tenant
The logistics park, positioned at 3311 Catalina Drive, houses a four-building, 236,000 square-feet complex within a half-mile radius of MARTA’s Chamblee station and just north of the DeKalb-Peachtree Airport. Previously a vacant 30-acre site, the project left a good 6 acres untouched for any potential future development. Aramark Refreshments, the new lessee and a subsidiary of Aramark, is expected to lease all of Building 4 at this industrial park. This follows previously negotiated leases for 17,128-square-foot in Building 1 and 50,720 square feet in Building 2.
New Wave of Industrial Developments
This innovative venture marks a fresh wave of Class A industrial properties to grace Atlanta’s cityscape in over a decade. David Kaplan, vice president at Stonemont, without mincing words, refers to the Chamblee project’s location as “one of the most desirable locations inside the I-285 perimeter.” He further explains this assertion, citing the proximity of the project site to the airport as well as its affordability owing to Chamblee’s relatively low home prices.
Despite the precarious state of the industrial leasing landscape across metro Atlanta in the first quarter of this year, Stonemont’s records indicate that the leasing industry is in good health. Current reports disclose about 7.2 million square feet of space signed, with 74 percent of that volume being categorized as new deals. Stonemont maintains an optimistic stance on Georgia’s industrial development, with projects encompassing over 2 million square feet under construction or recently completed in the state.
Partnerships and Association
The Chamblee project benefited from teamwork and collaboration from Ware Malcomb architects, civil engineering firm Kimley Horn and Associates, and general contractors Catamount Constructors. All these were instrumental in finalizing the project within the set time frame and ensuring the standard of work expected from an operation of its stature.
A Positive Ripple Effect
The thriving success of the Chamblee International Logistics Park project seems a testament to the promising potential of unique industrial developments within Atlanta’s Interstate 285 Perimeter. Moving forward, it may not be surprising to witness a ripple effect from this innovation on similar projects, redefining the limits of industrial development within the city.
