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Three Mega Build-To-Suits
Auction (Florida) L-ATL
   
September 12, 2013
 
 

Three Mega
Build-To-Suits


Franklin Street is a sponsor of our 4th annual Multifamily Summit event on Sept 30 (register today). Through a collaborative philosophy of leveraging the resources, expertise, and experience of each of its divisions, Franklin Street offers unmatched value and optimal solutions to its clients. Learn more about its advisory services here.

Some big names have huge, potential build-to-suit projects in metro Atlanta. We found out more on three of the prospects.

1) HHGregg

hhgregg-ellenwood
Appliance retailer HHGregg is eyeing Duke Realty's parcel off Anvil Block Road and I-675 in Clayton County, sources tell us. (They're probably using high-end electronic equipment to do so.) The company has been scouting metro Atlanta to develop a 400k SF build-to-suit distribution facility, possibly to replace its warehouse at 3000 Southpark Blvd in Ellenwood (above). Calls with Colliers International's Price Weaver, who reps the retailer, and Duke Realty were not returned by press time.
CohnReznick (Think) MATL

2) McMaster-Carr

sim doughtie
McMaster-Carr is an Atlanta-based nuts and bolts supplier eyeing a 1M SF project on 120 acres off Riverside Parkway in Douglas County. The company owns its facility at 6100 Fulton Industrial Blvd, and sources say it plans to develop a new project near the New Manchester Business Park: an initial distribution facility of up to 600k SF with enough land to expand to the million mark, sources say. King Industrial Realty's Sim Doughtie (above) and Al McConkey are repping the company, but did not return calls seeking comment.

3) Maurice Sporting Goods

darren butler nathan anderson
Maurice Sporting Goods is may develop 300k SF in McDonough. It's in a company-owned, 178k SF facility at 1325 Georgia 155, also in McDonough. But a build-to-suit could double its size. Sources say the company is also looking at existing buildings in the area. NAI Brannen Goddard's Nathan Anderson (above with Darren Butler) is repping the company, but was unavailable for comment.

tjx site
These are just a few of the build-to-suit projects in the market. Other big deals sources told us about include UnderArmour, looking to do a 600k SF distribution facility at sites from Savannah to Atlanta; T.J.Maxx, which recently inked a deal to develop a 600k SF warehouse in Jackson County (above) with IDI; Kroger, evaluating developing a 1M SF refrigerated distribution center with Majestic Realty at Charlie Brown Field (which we reported last week); and Restoration Hardware, which we're told is considering a 1M SF build-to-suit in the Savannah area.


Our First Event In Pittsburgh!

pitts
Yesterday, 250 joined us at the Pittsburgh Fairmont for our first-ever event in "The Town Formerly Known as Steel City." The city is booming (and not just because the Pirates have clinched a winning season for the first time in 20 years). Downtown office vacancy has been cut to 6% from 14% in '09. Panelists say the story can be "read on the rooftops," since so many new companies have invigorated downtown with both their presence and giant signage. And hope is high for tech: Google has mushroomed its original presence at Carnegie Mellon to 600 employees and 130k SF, with hopes for much more.


Self-Storage Junkies

Stein Decature Groundbreak 3
No horseplay, guys! Here's Stein Investment's Jeff Stein beating up partners Jason Linscott and Adam Sauer during a recent groundbreaking for the firm's Decatur Street self-storage facility. "Right now, we feel there's tremendous opportunity in self-storage in Atlanta," Jeff says. "I'm a contrarian in a lot of ways, and I like to go where the masses don't want to go."

Decatur Corner Rendering SIG
Stein is under way with more than $17M in self-storage projects here, including the 110k SF, 800-plus unit project in the Old Fourth Ward (which will also include a coffee bar). Other facilities: a $6.5M, 90k SF project on Shallowford Road in East Cobb and a redevelopment of a former 47k SF storage facility in Stockbridge. Stein has invested in other product types—office, apartments, retail—but Jeff says they now offer fewer opportunities, especially apartments, which have become expensive with heated demand. The firm wants to buy or develop some 35 facilities along the East Coast in well-located markets.

Don't trust atoms—they make up everything. Email jarred@bisnow.com.

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