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One of the largest industrial deals in years has landed in the Newnan market.
Saddle Creek, a third-party logistics provider, inked a deal for more than 1.2M SF at Southeast 85 Logistics Center, a bulk distribution center at 590 Coweta Industrial Parkway. Core5 Industrial Partners broke ground on the facility without a tenant in tow late last year. It is expected to deliver later this year.
The deal is expected to bring 300 new warehouse jobs to the Newnan area, Core5 Managing Director Lisa Ward said. Ward and Core5 Vice President Rodney Davidson brokered the deal for the developer. Newmark Knight Frank Senior Managing Director Dave Watson and Senior Vice President Ladson Montgomery represented Saddle Creek.
As a third-party logistics provider, Saddle Creek provides storage and delivery services for outside clients, described as a Fortune 50 company in this case, Ward said.
This is the latest in what is expected to be another busy industrial year in Atlanta. Last year, companies signed more than 20M SF of industrial deals, with developers unleashing 17M SF of new space in the metro area, according to Colliers International. That net absorption number shattered a previous record of 16M SF set in 2014.
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