Trammell Crow Company and its partner, Allstate, have commenced construction on Phase II of King Mill Distribution Park in Atlanta, GA. The project will feature a Class A industrial warehouse building comprised of 760,256 square feet built on a speculative or build-to-suit basis. Construction is schedule to complete Q3 2017.
“King Mill Distribution Park offers excellent product flexibility with an existing pad-ready site designed for logistics and corporate users,” said Mark Dishaw, Principal in TCC’s Atlanta Business Unit. “Due to its location, this area has proven to be one of the best logistical locations for bulk distribution facilities in the Southeastern US.”
The building will feature 36-foot clear building heights, ample trailer storage and employee vehicle parking, efficient ingress/egress at two separate entrances, and a flexible design that can accommodate multiple tenants served by separate entrances.
“We’re thrilled to continue working with Trammell Crow Company through CBRE Global Investors on such a successful project,” said Mike Moran, managing director of real estate equity at Allstate. “We believe building new industrial product in strong markets will position Allstate well to achieve attractive returns.”
TCC and Allstate completed construction of King Mill Distribution Park Phase I, which is comprised of 846,496 square feet of Class A industrial space, in April 2016. Phase I is fully leased to Wayfair, a Boston-based e-commerce retailer specializing in home furnishings and décor.
The Park is well-positioned in the Henry County segment of the I-75 South industrial submarket, can be accessed from multiple interchanges, Exit 216 to the north via GA 155, and Exit 212 to the south via Billy Gardner Parkway.
“Following the success of Phase I, we are pleased to once again collaborate with Trammell Crow Company to help our client Allstate further expand their investment in the logistics sector in Atlanta,” said Michael Everly, CBRE Global Investors Americas.
CBRE Atlanta’s Mark Hawks and Trey Barry will handle project leasing and marketing. JP Morgan Chase is providing financing for the development.
About Allstate
The Allstate Corporation (NYSE: ALL) is the nation’s largest publicly held personal lines insurer, protecting approximately 16 million households from life’s uncertainties. Allstate’s real estate investments group has decades of experience and looks for core and value-add opportunities across geographies in the United States and internationally, and in a range of investment vehicles, such as funds, co-investments and joint ventures. Allstate’s real estate investments include retail, multi-family, office and industrial properties.
About Trammell Crow Company
Trammell Crow Company (TCC), founded in 1948, is one of the nation’s leading developers and investors in commercial real estate. The Company has developed or acquired more than 2,600 buildings valued at more than $60 billion and over 565 million square feet. As of September 30, 2016, TCC had $7.1 billion of projects in process and $3.7 billion in its pipeline.
Trammell Crow Company’s teams are dedicated to building value for its clients with professionals in 16 major cities throughout the United States. The company serves users of and investors in office, industrial, retail, healthcare, multi-family residential, through its operating subsidiary High Street Residential and mixed use projects. For those who occupy real estate, TCC can execute the development or acquisition of facilities tailored to meet its clients’ needs. For investor clients, the company specializes in joint venture speculative development, acquisition/re-development ventures, build-to-suit development or providing incentive-based fee development services.
TCC is an independently operated subsidiary of CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, and the world’s largest commercial real estate services and investment firm (in terms of 2015 revenue). For more information, visit www.TrammellCrow.com.
