Panattoni Adds Fuel to Atlanta's Industrial Spec Boom
Panattoni, with investment money from MetLife, is moving forward on a 750k SF spec distribution center at Lambert Farms Logistics Park, the latest in a string of more than 2.5M SF of such projects announced in the past few weeks.
Jll's team, which includes Wit Truitt (here), Chris Tomasulo, Rodney Davidson, and Reed Davis, was tapped to head up leasing for the 447-acre Henry County project. And as Wit tells us, there's a lot of room for growth well beyond the initial facility at the farm.
MetLife, which has pinned its investment activity on office here in Atlanta, is diversifying its portfolio. And Panattoni sees a need for spec warehouse (with 36' clear ceilings and a massive amount of parking) to lure some of the big fish in the market right now. Plus, Wit says e-commerce fulfillment centers (where the orders you make online are processed) are impacting the market, highlighted recently by the Walmart e-commerce deal at Majestic Airport Center IV.
