ATLANTA, GA – Trammell Crow Company (TCC) and joint venture partner, Clarion Partners, announce the acquisition of 122.48 acres of premier commercial land located on I-85 in the Jackson County segment of the I-85 Northeast industrial submarket, the largest industrial submarket in metro Atlanta. A new two-phase, Class A industrial development will be built on the site: Jefferson Mill Business Park.
Jefferson Mill Business Park will comprise of three industrial buildings totaling nearly 1.8 million square feet. Phase I will feature an 822,257-square-foot bulk cross-dock warehouse and a 250,569-square-foot rear load distribution center. Construction will commence by the end of 2015 and be completed in 2016. Phase II of the Park will be a 720,836-square-foot speculative or build-to-suit bulk cross-dock warehouse, developed for maximum flexibility to meet the demands of the ultimate end user.
“We are excited to partner with Trammell Crow Company and to deliver quality industrial space to the market to meet the increasing needs of tenants and users,” said Tom Flanigan, SVP of Clarion Partners.
The site has excellent access to I-85, the US 129 Interchange, US 129 via Concord Parkway, and Hog Mountain Road/McClure Industrial Road. The Jefferson Mill site is very well positioned.
“The robust I-85 interstate connects Atlanta to the United States East Coast distribution corridor, specifically the Piedmont Atlantic Megaregion (PAM), spanning Birmingham to Raleigh, which contains 12 percent of the U.S. population and is one the fastest growing areas in the country,” said Mark Dishaw, Senior Vice President with TCC’s Atlanta Business Unit. “Due to its location, this area has proven to be one of the best logistical locations for distributors in the Southeastern U.S. and is home to many major corporations such as Haverty’s Furniture, Toyota, Kubota, and Walgreens.”
The Colliers International team of Ben Logue and Price Weaver brokered the land sale and will also handle the leasing and marketing of the site on behalf of TCC and Clarion Partners.
About Clarion Partners
Clarion Partners, an SEC registered investment adviser and FINRA member firm, has been a leading U.S. real estate investment manager for 33 years. Headquartered in New York, the firm has offices in Atlanta, Boston, Dallas, London, Los Angeles, São Paulo, Seattle and Washington, DC, as well as a presence in Mexico. With more than $36 billion in total assets under management, Clarion Partners offers a broad range of real estate strategies across the risk/return spectrum to its more than 250 domestic and international institutional investors.
More information about the firm is available at www.clarionpartners.com.
About Trammell Crow Company
Trammell Crow Company (TCC), founded in 1948, is one of the nation’s leading developers and investors in commercial real estate. The Company has developed or acquired nearly 2,600 buildings valued at nearly $60 billion and over 540 million square feet. As of June 30, 2015, TCC had $6.0 billion of projects in process and $3.7 billion in its pipeline.
Trammell Crow Company’s teams are dedicated to building value for its clients with professionals in 16 major cities throughout the United States. The company serves users of and investors in office, industrial, retail, healthcare, multi-family residential and mixed use projects. For those who occupy real estate, TCC can execute the development or acquisition of facilities tailored to meet its clients’ needs. For investor clients, the company specializes in joint venture speculative development, acquisition/re-development ventures, build-to-suit development, or providing incentive-based fee development services.
TCC is an independently operated subsidiary of CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, and the world’s largest commercial real estate services and investment firm (in terms of 2014 revenue). For more information visit www.TrammellCrow.com.