Palmetto Logistics Park
ATLANTA—CT Realty and its affiliates have started construction on two large-scale distribution buildings totaling 1,747,074 square feet in the greater Atlanta area.
The buildings are at Palmetto Logistics Park, a 358-acre distribution facility next to the CSX-Fairburn Intermodal Terminal and 16 miles from Hartsfield Jackson Atlanta International Airport.
CT and affiliate Port Logistics Realty partnered with River Oaks Capital Partners in a joint venture with PGIM Real Estate, the real estate investment business of Prudential Financial, on the development of Palmetto Logistics Park. Ben Logue and Price Weaver of Colliers International represented the project.
Phase 1 wrapped up in late-2018 with the completion of a 1,054,500-square-foot building. Medical device manufacturer Drive DeVilbiss Healthcare leased it shortly after completion.
Vertical construction is underway on the second building at the project, a 1,041,600-square-foot facility that is slated for completion in the first quarter of 2020. In addition, preliminary site work has begun on a third building, which will be 705,474-square-feet, with completion scheduled for the second quarter of 2020.
CT Realty said its strategy is to meet global demand from e-commerce and logistics companies for large-scale, Class A industrial buildings in nine Tier 1 markets in the United States. CT recently announced the development of 882,000 square feet in Fort Worth, Texas, and is under construction on logistics centers in Northern California, Illinois, Indiana and New Jersey. The company has another 20 million square feet of industrial space in its development pipeline.
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