ATLANTA—JLL just won a massive leasing gig in Atlanta. Developers MetLife and Panattoni Development Company named JLL as the leasing agent for Lambert Farms Logistics Park, a class A, 447-acre industrial park being underway in Henry County, GA.
JLL executive vice president Wit Truitt, senior vice president Chris Tomasulo, vice president Rodney Davidson and associate Reed Davis will lead the leasing team. The site is about 25 miles south of Downtown Atlanta.
“The Lambert Farms Logistics Park is perfectly poised to thrive for years to come,” Truitt says. “Large blocks of class A industrial space already are in short supply in metro Atlanta, and as the economy improves and distribution activity picks up, the demand for these kinds of properties will only rise.”
Panattoni just broke ground on the master-planned industrial park's first phase, which will offer a 750,000-square-foot spec distribution center on 183 acres. The industrial building will feature 36-foot clear heights, parking for tractor-trailers and cars to accommodate both e-commerce and traditional bulk tenants, and will be built to LEED standards. The building is scheduled for delivery by July 2015.
“The industry should definitely keep an eye on the e-commerce sector,” Bill Waxman, executive vice president of CBRE's Global Port Logistics Group, tells GlobeSt.com. “In the larger markets, including New York, Los Angeles, Chicago, and Seattle, we're seeing quick growth in same-day and next-day delivery.”
Industrial site plans allow the spec building to expand to up to close to 1.5 million square feet. Lambert Farms Logistics Park will be able to accommodate up to 7 million square feet of total distribution space and individual buildings up to 2 million square feet in size. The industrial park sits on the east side of the intersection of Interstate 75 and State Road 155.
“Panattoni has been an active developer in the Southeast with nine projects under construction totaling more than 5.8 million square feet,” says Dayne Pryor, partner at Panattoni. “Nationwide, Panattoni is currently under construction on 39 projects totaling more than 16.5 million square feet.”
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