Atlanta Welcomes New Developments in the Warehouse Scene!
Good news, Atlanta! The real estate landscape is buzzing with fresh developments as Denver-based Broe Group has made a splash by diving into the rail-served warehouse game right here in our beloved Metro Atlanta. They recently snatched up the old Kellogg’s facility located at 5601 Bucknell Drive, which spans a whopping 102,000 square feet and is conveniently located off Interstate 20 West in the Fulton Industrial submarket. While the purchase price remains under wraps, it’s clear that this facility won’t be around for long. Broe’s affiliate Broe Real Estate Group plans to tear the building down to pave the way for a brand-new 225,000 square foot distribution center along the Fulton County Railroad line.
What’s in Store for the New Development?
The exciting part? This project is backed by Broe’s rail affiliate, OmniTrax, ensuring seamless logistics for the new facility. According to the buzz around the neighborhood, the build-to-suit facility is set to cost around $35 million. Now that’s a hefty investment in our local economy!
Big Moves in Duluth!
Meanwhile, over in Duluth, another intriguing property deal took place. Foxfield got its hands on the 169,000 square foot flex industrial facility located at 3059 Premiere Parkway, formerly owned by the Belgian technology company Barco NV. Although the details about the money exchanged remain under wraps, Barco has signed a six-year lease to stay in the building, paying around $10 per square foot during that time. The Gwinnett County assessed the property’s value at about $8 million this year, making it a vital piece of real estate in the area.
Exciting Retail News!
On the retail side of things, Trader Joe’s is shaking things up by leasing just under 14,000 square feet for a new store at Halcyon, a thriving mixed-use project located in Forsyth County. While the terms of the lease are being kept under wraps, this store is part of the third phase of development by RocaPoint Partners. Trader Joe’s will soon join a lineup of fantastic neighbors like Chewy Vet Care, Chase Bank, Five Guys, and of course, the beloved Chick-Fil-A.
Shifts in the Industry
Now, let’s talk about some exciting personnel movements in our city. Sean Fitzsimmons has recently joined Logistics Property Co. as the new senior vice president for the Southeast region. Based right here in Atlanta, he’ll be working hard to develop and lease projects for the company’s 1.7 million square foot warehouse portfolio in the area. With 25 years of industrial experience under his belt, he’s certainly a valuable addition!
Retirement Announcement
Another significant development is the retirement announcement from Lisa Ward, who played a pivotal role at Core5 Industrial Partners. After a successful day-to-day career, she’ll be stepping back on July 15. Ward co-founded Core5 in 2015 and has been a crucial player in buying large tracts of industrial land—totally over 2,400 acres and developing an impressive 19 million square feet of warehouses. Rodney Davidson will take over her role as senior vice president and managing director of Southeast. Congratulations, Lisa, on a well-deserved retirement!
The Atlanta Market Keeps Growing!
Exciting changes are afoot in Atlanta’s real estate market. With industry veterans making big moves, innovative projects in development, and beloved retail giants opening their doors, it’s clear that the Atlas of Atlanta is about to grow even larger!
