August 21, 2015 – CBRE Group, Inc., has been selected by Panattoni
Development Company, Inc. as the exclusive leasing agent for a large bulk warehouse
development in the Northeast Atlanta submarket.
Panattoni purchased approximately 60 acres to
develop a +/- 492,000-sq.-ft. cross-dock bulk warehouse building. It will serve
as part of Phase II to the existing Buford Logistics Center. The building will
feature 36’ clear height, LED and T-5 lights, abundant trailer storage, and a 7”
slab. The project is strategically
located with excellent access to Interstates 985, 85 and 285; only 50 miles
from Atlanta’s Hartsfield-Jackson International and less than 300 miles from
the Port of Savannah, the nation’s leading port in TEU (twenty-foot equivalent
The CBRE Atlanta industrial team of Trey Barry, Mark Hawks, Todd Barton and Greg Haynes will market and lease the building. Dayne Pryor, Local Partner for Panattoni,
stated, “We are excited to have the CBRE team market and lease this new
speculative facility. They were very successful in fully leasing our adjacent
414,960 SF Buford Logistics Center Phase I building in a deal where the tenant was
represented by Jim Bob Taylor of Cresa Atlanta.”
Atlanta has solidified its place in the industrial
market as a national leader. A recent CBRE Research report finds that Atlanta is
one of two leading U.S. markets, with 18.1 million square feet of industrial
space under construction. As Atlanta establishes itself as the Southeast’s
distribution hub, larger and more established companies look to either expand
their footprint in the area or relocate to Atlanta.
The Northeast Atlanta submarket in particular has
seen a decrease in vacancy, from 2014’s 9.2% to the current 7.3%. Overall
market activity is on the rise, with 1,230,000 sq. ft of absorption in the
second quarter of 2015.
About CBRE Group, Inc. CBRE
Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in
Los Angeles, is the world’s largest commercial real estate services and
investment firm (in terms of 2013 revenue).
The Company has approximately 44,000 employees (excluding affiliates),
and serves real estate owners, investors and occupiers through approximately
350 offices (excluding affiliates) worldwide. CBRE offers strategic advice and
execution for property sales and leasing; corporate services; property,
facilities and project management; mortgage banking; appraisal and valuation;
development services; investment management; and research and consulting.
Please visit our website at www.cbre.com.