Georgia Retail Property to Undergo Redevelopment
- Apr 03, 2020
Ultimate Realty has revealed plans to convert Westgate Shopping Center, a 411,200-square-foot retail complex in Macon, Ga., into an industrial park. The company will spend $12 million on the redevelopment project, which will result in a six-building campus dubbed Middle Georgia Industrial Park. According to public records, the firm acquired the property for $4.7 million from Safeway Group in December 2019.
Located at 2525 Pio Nono Ave. on 43 acres, Westgate Shopping Center was Georgia’s first air-conditioned mall when it opened in 1961. The adaptive reuse project is Ultimate Realty’s first endeavor in the state. The 395,000-square-foot development is set to feature buildings spanning between 19,000 and 106,000 square feet, slated for completion this summer.
The conversion will include repainting the exterior, installing new electrical systems, adding new bathrooms, dock- and grade-level doors as well as office components. The developer will also change the signage, improve the landscape and put in new LED lighting and sprinklers.
Cushman & Wakefield will lease the complex. The site is close to the intersection between Eisenhower Parkway and Interstate 75, while Middle Georgia Regional Airport is 8 miles south.
Industrial leasing activity has increased in metro Atlanta last year, surpassing 31 million square feet of new deals—8.9 million square feet of those agreements closed in the last quarter of 2019, according to Cushman & Wakefield data. In December, the company received a 1 million-square-foot leasing assignment from Avistone.