Clarion, Seefried Break Ground on Buford Distribution Center
- Oct 27, 2016
by Evelina Croitoru
Atlanta—Clarion Partners and Seefried Properties have recently broken groun on the Buford Mill Distribution Center in Buford, Ga. The approximate cost of the development project is predicted to exceed $25 million. The companies are developing the Class A logistics center on behalf of a commingled fund that is being managed by Clarion Partners.
“Based on the market dynamics for the metro Atlanta industrial market, we are excited to start this project with Clarion. Given that the I-85 Northeast Atlanta submarket is only 5.1 percent vacant, and that the overall business distribution sector remains very active, we anticipate that delivering these two Class A buildings toward the middle of next year will be great timing,” Doug Smith, senior vice president at Seefried, said in a prepared statement.
The property will be constructed on a 43.1 parcel of industrial land and will comprise two buildings totaling 422,140 square feet. The assets will feature 32-foot minimum clear height and ample trailer and parking space. The site is located northeast of downtown Atlanta, right off Highway 20/I-985.
“This strategically located, state-of-the-art project in one of the best distribution locations in the Southeast will be a very strong addition to our Atlanta portfolio. We are very excited to kick off this project and to expand our national partnership with Seefried Properties,” Kristopher Arviso, senior vice president with Clarion Partners, said in prepared remarks.
Image courtesy of Seefried Properties