Core5 Industrial Partners Signs Atlanta’s Largest Lease of 2018
- Apr 25, 2018
Saddle Creek Logistics Services has signed a 1.2-million-square-foot lease at Southwest 85 Logistics Center, a soon-to-be-delivered industrial property in Newnan, Ga., with the building’s owner, Core5 Industrial Partners.
A provider of supply chain solutions for retailers, manufacturers and e-commerce companies, the lessee will use the building to offer distribution services on behalf of a top home improvement retailer for its locations across the Southeast.
Ladson Montgomery, a principal of Newmark Phoenix Realty Group, represented the tenant in the deal, along with Dave Watson, a senior managing director with Newmark Knight Frank. The lease represents the largest in the Atlanta area for 2018.
Located at 590 Coweta Industrial Parkway, the property is situated on 109 acres at Exit 51 in the I-85/Southwest Atlanta submarket.
“Located less than two minutes from Exit 51 on I-85, the property provides outstanding access and interstate frontage visibility coupled with easy proximity to Metro Atlanta’s population base,” Lisa Ward, Core5’s senior vice president & managing director, said in a prepared statement. “We have found the responsive, pro-business environment of Coweta County coupled with the strong, targeted labor pool offered in the surrounding area to be a tremendous advantage for Core5 and ultimately our customer, Saddle Creek.”
The Southwest 85 Logistics Center is close by Atlanta’s Hartsfield-Jackson International Airport and the CXS Intermodal terminal, and is ideally situated for both domestic and international business trades requiring local, regional and national distribution.
Top Amenities Included
The building boasts 40-foot clear ceiling heights and can accommodate trailer parking for more than 590 trailers with well over 200 auto parking spaces.
“Core5’s nimble ability to deliver the building quickly in turn allows us to ramp up quickly for our client,” Robert Pericht, Saddle Creek Logistics Services’ senior vice president, said. “Our client’s direct-to-consumer deliveries, coupled with transfers to retail stores throughout Atlanta and the Southeast, will significantly benefit from the interstate ease of access to the site.”
Core5 Industrial Partners’ current development activity totals more than 4.9 million square feet in Atlanta, Chicago, Cincinnati, Dallas, Los Angeles/Inland Empire, Memphis, Pennsylvania and South Florida. The company has also developed more than 10 million square feet since its inception three years ago.
Last September, Core5 Industrial Partners finished construction on a 781,440-square-foot industrial facility in Austell, Ga., which was sold to WPT Capital Advisors in December for $28.7 million. Earlier in 2017, Core5 Industrial Partners acquired 173 acres of fully entitled land in DeSoto County, Miss.
Image courtesy of Core5 Industrial Partners