Core5 Making Huge Second Bet On Atlanta Industrial Spec
An upstart industrial developer with execs who have a long history in Atlanta is moving on yet another spec project in the metro area.
Core5 Industrial Partners just closed on some 70 acres in Cobb County in the I-20 West submarket and will soon start on a 781k SF spec distribution facility that will be delivering next year. The property is off Interstate West Parkway inside the county's economic incentive opportunity zone. Core5's Lisa Ward tells us the site should be compelling to e-commerce tenants "due to its close proximity to...the new FedEx ground hub on Factory Shoals Road."
This is Core5's second Atlanta gambit. With backing from former IDI Gazeley owners Kajima Corp, the firm—encompassing Lisa and other former IDI execs Tim Gunter, Linda Booker, Jennifer Jones and David Nelson—is nearly finished on an 874k SF spec cross-dock warehouse at Shugart Farms off I-85, south of the city.