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Spec Warehouse at Airport?

WASHINGTON DC 07.12.2017


The Block is Hot!

Deborah Ratner Salzberg -- Forest City Washington
Janet Davis -- Brandywine Realty Trust
Richard Ruben -- Ruben Companies
Spec Warehouse at Airport?

A big box warehouse near Hartsfield Airport is one step closer to reality. Majestic Realty has finally  pulled permits. (We got in the TSA line at the same time it applied... but we're still in line.)

Majestic's  Stan Conway (at a holiday party with Majestic's Angela Jandoc  and  Dani Campbell) tells us the company is finally moving forward on a 560k SF spec warehouse at Majestic Airport Center. The $20M-plus project has been in the plans for some time, fulfilling what Stan told us late last year. He says the time is ripe for a spec warehouse. (You can smell it in the air.) MAC's 13M SF has "very little vacancy" under an umbrella of a lot of activity in the airport submarket. Plus MAC III sits in an opportunity zone, which will offer potential tenants tax incentives, he says. Majestic also is seeking approval from regional planners for additional MAC III land that could allow up to 1.5M SF, according to documents with the Georgia Department of Community Affairs.