A Lakeland, Fla.-based third-party logistics company has leased all of the 1.2-million-square-foot Southwest 85 Logistics Center in Newnan, Ga.
Saddle Creek Logistics Services signed a lease with the building’s owner, Core5 Industrial Partners, according to a Commercial Property Executive article.
Saddle Creek Logistics, which provides supply chain services for retailers, manufacturers and e-commerce companies, plans to use Southwest 85 Logistics Center to provide distribution services for a top home improvement retailer’s locations in 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. It’s the largest lease in the Atlanta area so far in 2018.
The soon-to-be-delivered building is located at 590 Coweta Industrial Parkway, on 109 acres at Exit 51 on I-85. Core5 announced the project in August 2017.
“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 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 proximate to Hartsfield-Jackson Atlanta International Airport and the CXS Intermodal terminal. It has 40-foot clear ceiling heights and 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 is currently developing 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.
Saddle Creek Logistics Services has a 1,088,000-square-foot Atlanta campus at 100 Eagle Vista Parkway as well as a Fulton Parkway facility and locations in Macon and Villa Rica in Georgia.