ATLANTA—The demand for industrial space in metro Atlanta is rising—and Ridgeline Property Group is the latest to decide to enter the market with new inventory. Ridgeline just announced plans to develop a 714,560-square-foot class A speculative industrial building in McDonough, GA. That's in the South Atlanta Industrial submarket.
On the capital front, Ridgeline is working with Clarion Partners to build the McDonough Commerce Center. The industrial project will sit on 53 acres of land in the heart of Henry County's industrial bulk submarket, directly off of the Interstate 75 and Hwy 155 interchange.
“Atlanta's industrial sector has rebounded strongly and the market is starved for high-quality, modern product,” says Mike Gray, president of Ridgeline. “In particular, e-retailing has changed the landscape in the logistics arena, and this project provides sophisticated users optimal ceiling clear height, increased bay spacing, and greater car and trailer parking capacity.”
The speculative industrial building's design promises to offer maximum efficiency for large-scale distribution operations, including e-commerce order fulfillment. The project is scheduled to be delivered in late-summer 2015. Ben Logue and Price Weaver of Colliers International's Atlanta office have are handling leasing for the industrial project.
“This state-of-the-art development enjoys an 'A-plus' strategic location, offering immediate access to I-75 via two interchanges in one of the most dynamic supply chain markets in the US,” Gray says. “McDonough Commerce Center will enable any company to reach the Southeast U.S. markets in one day and over 60% of the US population in less than two.”
Located on Avalon Parkway, the project site is one-quarter mile from Exit 216 and less than one and a half miles from Exit 218. Design features of the class A industrial facility include 36-foot clear heights, 56-foot-wide bay spacing, all concrete truck courts, ESFR fire suppression and high-capacity parking, including 431 car parking spaces and 160 trailer spaces that are expandable to 240 trailer spaces.
Ridgeline's McDonough Commerce Center should come online with strategic timing as Atlanta's industrial sector continues to surge. According to Colliers' Third Quarter 2014 Atlanta Industrial Market Report, the industrial market there saw 10.5 million square feet of absorption through the third quarter of 2014.
What's more, the vacancy rate for warehouse and distribution properties is below 10% for the first time in nearly a decade. Anticipated occupancy gains by the end of the year are expected to contribute to the highest industrial absorption in Atlanta since 2006.
“We're very pleased to partner with Ridgeline Property Group on this project. RPG and its team members have extensive expertise developing big-box industrial projects,” says Thomas Flanigan, senior vice president of Clarion. “This project's strategic location combined with the scarcity of existing space above 500,000 square feet in the Atlanta market makes this an opportune and appropriate time to develop McDonough Commerce Center.”
Ridgeline's principals have are no stranger to development in Henry County. The team has completed over 5 million square feet of investment grade, industrial buildings in the Interstate 75 South corridor, including distribution centers for The Whirlpool Corporation (1,504,800 SF), Georgia-Pacific (900,640 SF) and Kumho Tire (412,000 SF), among others.
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