Cool Runnings International to begin construction of new office campus off Georgia 85 in March
Randolph Williamson, a full-service commercial real estate and construction services firm based in Peachtree City, announced today the sale of a land parcel on Highway 85 in north Fayetteville, Georgia. The transaction clears the way for a new corporate office project and mixed-use development that is expected to generate jobs and provide a boost to the local economy.
Randolph Williamson associate broker James Clark and principal Brent Randolph represented the seller, Lester Family Limited Partnership, LLLP. CRI Global, the development arm of parent company Cool Runnings International, Inc., purchased the 9.5-acre property, which lies between North 85th Parkway and Curved Road.
The site will house a new 17,000-square-foot office building that will serve as the corporate headquarters for Cool Runnings International (CRI), a commercial and industrial refrigeration and cold storage solutions provider that contracts with grocery stores, food processing facilities and warehouse distribution centers around the globe. Construction is expected to begin in March, with the new corporate campus expected to open in the fourth quarter of 2018.
CRI has also secured the first right of refusal on a 15-acre plot of land directly in front of the future office site and adjacent to Highway 85. Plans call for the property to be converted into a mixed-use development that will include a variety of restaurants, boutique shops and other light retail, along with a high-end technical park containing office space. The company is in the process of separating the parcel and obtaining the necessary approvals required to begin development. The yet-to-be named mixed-use site is expected to open in mid-2020.
“The acquisition of this property marks an exciting new chapter not just for Cool Runnings International, but also for the residents of Fayetteville and the surrounding area,” said Bill Harms, President and CEO of CRI. “The city of Fayetteville’s forward-thinking, pro-business approach was a major factor in our decision to locate here, and their continued efforts to create a dynamic local economy that attracts a diverse blend of employers really meshed with our vision for this site. Randolph Williamson’s expertise in conducting these types of transactions ensured that our master timeline stayed on track, and we look forward to sharing more news on our progress in the months ahead.”
CRI will also build a 10,000-square-foot warehouse next to the future office building as part of ongoing expansion efforts for its worldwide distribution network. Company officials said the headquarters will employ up to 25 people when it opens next year, with design plans allowing room to expand in the future. Orlando-based Scott + Cormia will serve as lead architect for the project.
“The City of Fayetteville is on the move, and today’s announcement reflects our optimism that the economic prospects for this area are bright,” said Brent Randolph, principal of Randolph Williamson. “Randolph Williamson is pleased to partner with a vision that emphasizes delivering jobs and a high quality of life for residents who want to shop, dine and pursue entertainment options that are near their front door. We congratulate Cool Runnings International on this landmark acquisition.”
Randolph Williamson currently has over 500 acres of land listed in Fayetteville. For more information and the latest news on Randolph Williamson, visit RWCRE.net.
About Randolph Williamson
Headquartered in Peachtree City, Georgia, Randolph Williamson is a full-service commercial real estate and construction firm with deep industry knowledge. Driven by a commitment to service, honesty and hard work, Randolph Williamson’s goal is to provide a superior experience and tremendous value for its clientele.
As one of Georgia’s leading full service construction, development and real estate firms with a 25-year history, the family owned and operated company has constructed more than 500 successful commercial projects, and brokered more than 5,000 commercial real estate transactions throughout the Southeast. Randolph Williamson has extensive experience with an array of projects and is the primary developer of Pinewood Atlanta Studios and the adjacent Georgia Film Academy.