Top 5 Industrial Properties Under Construction in Atlanta
The market has the largest active industrial construction pipeline in the Southeast, CommercialEdge data shows.
Industrial development activity reached an all-time high at the end of October, with 522.5 million square feet under construction across the U.S. While distribution hubs including the Inland Empire, Dallas and Phoenix each had well upwards of 20 million square feet underway, development activity picked up nearly universally.
In the Southeast, Atlanta had the highest amount of active construction activity, with 10.7 million square feet underway at the end of October, or 2.1 percent of inventory, according to CommercialEdge data. The vast majority of the metro’s projects were located south of the city, with 40 percent of activity concentrated in the South Atlanta submarket alone.
The list below utilizes CommercialEdge data to highlight the five largest industrial developments underway in Atlanta as of the end of October.
|Majestic Airport Center III – Building 2
|Majestic Airport Center V – Building 1
|Greenwood 75 Logistics Park
|USAA Real Estate
|Gillem Logistics Center – Building 1100
|Robinson Weeks Partners
|Palmetto Logistics Park – Building 3
5. Palmetto Logistics Park – Building 3
A joint venture between CT Realty and Hardie Real Estate Group broke ground on the 705,474-square-foot third building within Palmetto Logistics Park in Fairburn in May this year, backed by $33.2 million in construction financing from Fifth Third Bank. The cross-dock facility will have 36-foot clear heights, 7,000 square feet of office space, 70 loading docks and four drive-in doors, in addition to 185-foot truck courts and nearly 300 trailer parking spaces.
Once delivered early next year, the speculative development 25 miles southwest of Atlanta will join two completed assets within the Class A industrial park. The campus is managed by Colliers, and the other properties’ tenants include Johnson & Johnson and medical product manufacturer Drive DeVilbiss Healthcare.
4. Gillem Logistics Center – Building 1100
Atlanta’s fourth-largest industrial project underway, the 909,509-square-foot Building 1100 at Gillem Logistics Park, began construction in July this year. Starwood Capital Group is partnering with Robinson Weeks to develop the building alongside the smaller, 377,520-square-foot Building 1200. The full, 1,168-acre master-planned industrial park is 12 miles south of Atlanta off of U.S. Highway 23 on the site of a former army base.
Located at 200 Metcalf Road Extension in Forest Park, Building 1100 is slated for delivery by the end of the first quarter next year. The property will have 40-foot clear heights, more than 300 trailer parking stalls and 171 loading doors in a cross-dock configuration. Truck courts will range from 185 to 240 feet.
3. Greenwood 75 Logistics Park
USAA Real Estate’s 1 million-square-foot Greenwood 75 Logistics Park broke ground in April, financed with a $31.8 million construction loan from Cadence Bank. The speculative project—the largest of five underway in the rapidly growing South Henry County submarket—is slated for delivery toward the end of the year.
Located at 315 Greenwood Industrial Place in McDonough, the development is a short distance from Interstate 75, 25 miles southeast of Hartsfield-Jackson Atlanta International Airport. The property will feature clear heights of 40 feet, four drive-in and 215 dock-high loading doors, 300 parking spaces and an ESFR sprinkler system.
2. Majestic Airport Center V – Building 1
The second-largest industrial project underway in Atlanta, Majestic Realty’s 1.1 million-square-foot Building 1 at Majestic Airport Center V kicked off in July of 2020, with financing provided by Comerica Bank. The developer plans to complete the property toward the end of the year.
The development began as a speculative project, with Amazon signing a full-building lease in the second quarter of this year. The property will offer 40-foot clear heights, 4,000 amps of electrical service, 200-foot truck courts and 176 dock-high loading doors. The 78.3-acre site will also include ample parking, with 334 spaces for cars and 205 trailer stalls.
1. Majestic Airport Center III – Building 2
Atlanta’s largest industrial development under construction at the end of October was Majestic Realty’s 1.3 million-square-foot Building 2 at Majestic Airport Center III, 5 miles southeast of the developer’s other project on our list. Work started on the 50-acre site in November 2020, with completion scheduled for mid-2022.
City National Bank is providing construction financing of $42.4 million for the facility at 3650 Flat Shoals Road in Union City, 5 miles southwest of the international airport. Amazon signed a 517,200-square-foot lease for the property in the third quarter this year. The full Majestic Airport Center III campus includes 2.9 million square feet of completed inventory as well as a smaller, 75,863-square-foot project alongside Interstate 85.