Crow Holdings, Liberty Property Trust Building On Spec In Georgia
Dallas-based Crow Holdings' industrial arm is expanding its industrial presence in and around Metro Atlanta.
The firm is breaking ground on Southside Logistics Center, a 135K SF facility 3 miles from Hartsfield-Jackson Atlanta International Airport off Southside Industrial Parkway, as well as New Salem 85 Logistics Center, a 636K SF facility off Interstate 85 in Jefferson, Georgia, just outside of Athens.
Crow Holdings Industrial is just the latest developer to pursue new industrial development in and around the metro area. More than 21M SF of industrial product was under construction by the end of 2017, and that is coming off a near-record year of absorption, in which industrial landlords leased more than 22M SF, just shy of the 23M SF record in 2014, according to a recent Colliers International report.
“The robust activity in Atlanta’s industrial market is not expected to subside anytime soon,” Colliers official wrote in the report. “Occupancies next quarter are projected to top almost 4M SF. This will be the start [of] yet another strong year of gains in 2018.”
Liberty Property Trust recently announced it was kicking off development of Liberty Commerce Center, an 840K SF warehouse on 80 acres in Jackson County in North Georgia, as well as 875 Maxham Road in Lithia Springs, a 247K SF distribution facility off Interstate 20 West in Douglas County, near the new UPS hub at Charlie Brown Field.
"In executing more than 20 new leases, renewals and expansions in 2017, we laid the groundwork for strategic core growth in 2018," Liberty Property Trust Vice President Steve Rowley said in a release.