The Atlanta office of Trammell Crow Company (TCC), a global commercial real estate developer, and JV partner CBRE Investment Management, on behalf of a fund it manages, broke ground on the first phase of the Jackson 85 North Business Park (Jackson 85) in Jackson County, Georgia. Located on a 287-acre site in the northeast Atlanta submarket along Interstate 85, Jackson 85 will deliver 2,252,000 square feet of Class A logistics space upon full completion in 2025.
The first phase of development at Jackson 85 will include 1.5 million square feet across two cross-dock facilities. Building 1 will comprise 538,450 square feet and Building 2 will offer 1,001,000 square feet. Phase one is expected to deliver in Q1 2024. Construction on Phase two will begin in mid-2024 and include a single 713,050-square-foot cross-dock facility, delivering in 2025. Features of all three buildings will include 185’ to 190’ deep concrete exterior truck courts, 40’ clear heights, ample power, ESFR fire sprinklers, and R-19 insulation.
“We are excited to officially break ground on Jackson 85 North Business Park in Jackson County, which continues to see an increase in demand for high-end logistics space that can meet the needs of a variety of today’s industrial users,” said Will Lombard, a Senior Vice President with TCC Atlanta. “In the wake of our success at nearby Jefferson Mill Business Park, this project emphasizes our belief in the market and our team’s ability to execute Class A projects of scale.”
“We’re proud to partner with TCC to bring this well-located, modern logistics development to fruition in one of Metro Atlanta’s most active logistics corridors,” said Mary Lang, Head of Americas Direct Logistics Strategies for CBRE Investment Management. “We believe that the Atlanta area’s robust infrastructure network, strong demographic and economic growth, and multimodal accessibility will enable this asset to provide long-term value to various manufacturers and distributors in the area.”
Leasing for the project will be handled by Wilson Hull & Neal Real Estate.
The Jackson 85 North Business Park is located approximately 60 miles northeast of Atlanta. The location will afford tenants easy access to I-85, to Metro Atlanta and major markets in other nearby states.
About Trammell Crow Company
Trammell Crow Company (TCC) is a global commercial real estate developer and wholly-owned subsidiary of CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas. Founded in 1948, TCC has developed or acquired nearly 2,900 buildings valued at $75 billion and over 655 million square feet. As of December 31, 2022, TCC had $16.9 billion of projects in process and $12.9 billion in its pipeline. It employs 700 professionals in 27 major cities throughout the United States and Europe. The company serves users of and investors in office, industrial/logistics, healthcare, life sciences and mixed-use projects, as well as multi-family residential through its operating subsidiary High Street Residential. For more information visit www.TrammellCrow.com.
About CBRE Investment Management
CBRE Investment Management is a leading global real assets investment management firm with $143.9 billion in assets under management* as of September 30, 2022, operating in more than 30 offices and 20 countries around the world. Through its investor-operator culture, the firm seeks to deliver sustainable investment solutions across real assets categories, geographies, risk profiles and execution formats so that its clients, people and communities thrive.
CBRE Investment Management is an independently operated affiliate of CBRE Group, Inc. (NYSE:CBRE), the world’s largest commercial real estate services and investment firm (based on 2021 revenue). CBRE has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE Investment Management harnesses CBRE’s data and market insights, investment sourcing and other resources for the benefit of its clients. For more information, please visit www.cbreim.com.
*Assets under management (AUM) refers to the fair market value of real assets-related investments with respect to which CBRE Investment Management provides, on a global basis, oversight, investment management services and other advice and which generally consist of investments in real assets; equity in funds and joint ventures; securities portfolios; operating companies and real assets-related loans. This AUM is intended principally to reflect the extent of CBRE Investment Management’s presence in the global real assets market, and its calculation of AUM may differ from the calculations of other asset managers and from its calculation of regulatory assets under management for purposes of certain regulatory filings.
