Venture has Assembled Approximately 232 Acres in Three Phases for State-of-the-Art Class A Industrial Park
Trammell Crow Company (TCC) and joint venture partner, Clarion Partners, LLC have acquired 109.7 acres for the third phase of Jefferson Mill Business Park. The acquisition represents an assemblage of seven different properties and held by seven distinct owners. TCC and Clarion are marketing Phase III as a build-to-suit, cross-dock distribution facility that can provide tenants between 1.1-and-1.5 million square feet of space.
“With Atlanta’s growing population base, major interstates, proximity to the world’s busiest airport, and our site’s attributes, our project is well-positioned to benefit from the continued e-commerce surge in Atlanta,” said Mark Dishaw, principal with TCC’s Atlanta Business Unit. “We have experienced tremendous success with our first two phases and look forward to delivering the third phase with Clarion.”
Located in Jefferson, GA, Jefferson Mill Business Park is within the I-85 Northeast Market, one of the largest industrial markets in metro Atlanta. Only one mile from I-85 Exit 137, the Phase III site is located across Hog Mountain Road from Phases I and II and features desirable frontage along I-85, along with the ability to accommodate more than 1.5 million square feet, more than 500 trailer spaces and more than 1,000 auto parking spaces. Altogether, Phases I, II, and III comprise approximately 232 acres of land and up to 2.7 million square feet of industrial space.
"We are excited about this acquisition and the ability to expand upon the success of the first two phases at Jefferson Mill Business Park with our partner, TCC," said Clarion Partners Senior Vice President Tom Flanigan. "The proximity to I-85, flexible building design and best-in-class specifications will allow us to see a diverse mix of tenant requirements."
Price Weaver and Ben Logue with Colliers International represented TCC and Clarion Partners in the transaction. Matt McCord with Norton Commercial, Grant Whitworth with Whitworth Land Corporation and Kim Bowman with Keller Williams represented the various sellers.
About Clarion Partners
Clarion Partners, an SEC registered investment adviser with FCA-authorized and FINRA member affiliates, has been a leading U.S. real estate investment manager for more than 36 years. Headquartered in New York, the firm has offices in Atlanta, Boston, Dallas, London, Los Angeles and Washington, DC. With more than $46.6 billion in total assets under management, Clarion Partners offers a broad range of both debt and equity real estate strategies across the risk/return spectrum to its more than 300 domestic and international institutional investors. More information 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 2,700 buildings valued at nearly $65 billion and over 590 million square feet. As of September 30, 2020, TCC had $14.8 billion of projects in process and $5.9 billion in its pipeline. It employs more than 550 professionals in the United States and the United Kingdom.
Trammell Crow Company’s teams are dedicated to building value for its clients with professionals in 18 major cities throughout the United States and London. The company serves users of and investors in office, industrial, retail, healthcare, multi-family residential, through its operating subsidiary High Street Residential, and mixed-use projects. For those who occupy real estate, TCC can execute the development or acquisition of facilities tailored to meet the needs of its clients. For investor clients, the company specializes in joint venture speculative development, acquisition/re-development ventures, build-to-suit development and providing incentive-based fee development services.
TCC is an independently operated subsidiary of CBRE Group, Inc. (NYSE:CBRE), 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 2019 revenue).
