Steam Realty Development Lands $11M Financing
- Apr 25, 2018
Stream Realty Partners has taken an $11 million, non-recourse construction mortgage from Brand Bank to build Graham Logistics Center, a 281,025-square-foot Class A industrial property near Atlanta. HFF secured the four-year, floating-rate financing package on behalf of the owner. The developer estimates the speculative building will be delivered 11 months after construction begins.
Located at 7375 Graham Road in Fairburn, the development site sits just under 20 miles from central Atlanta and 10 miles from the city’s Hartsfield-Jackson International Airport, accessible via Interstate 85, which runs alongside the parcel. A number of industrial assets operate in the immediate area, home to tenants including XPO Logistics, DHL and Exel. The building will feature 32-foot clear heights, rear loading doors and office space for each of the property’s four divisible suites.
“Graham Logistics Center is a unique development with the ability to accommodate up to four individual tenants,” said William Stark, managing director at Stream, in a prepared statement. “Our project will be able to exceed market standards by developing excess acreage into additional trailer storage, container storage or personnel parking. This will be one of the only highly amenitized new buildings available to mid-sized industrial users.”
Image courtesy of HFF