Industrial development and investment company Port Logistics Realty is making its mark on more than 200 acres in Palmetto.
Its ongoing project on Roosevelt Highway at Hobgood Road, started in April, represents the Dallas, Texas-based company’s metro Atlanta debut.
The result will be a 2.6 million-square-foot industrial park targeted at the e-commerce industry, according to PLR Development President Rob Huthnance.
“Palmetto Logistics Park offers an excellent logistics advantage for companies looking to meet consumers’ needs across the Southeast,” he said in a statement.
Buckhead-based River Oaks Capital Partners is also involved in the project.
Managing Partner Klay Simpson pointed out the site’s strategic location near rail, truck and air freight lines.
“Location-wise, south Fulton County is an extraordinarily attractive submarket,” Simpson said in a statement. “With its proximity to the CSX (railroad) intermodal facility, as well as its Class A design and campus-quality infrastructure, Palmetto Logistics Park is uniquely poised to fill a void.”
The void is a demand for “modern industrial warehouses,” Huthnance said.
“Projections for continued job growth and expansion in the e-commerce, logistics and manufacturing industries poise the market for continued momentum,” he said.
Simpson said online ordering is having an impact on ground operations.
“As companies continue to expand their e-commerce operations, strategic access to consumers in Atlanta and across the Southeast will become more and more critical,” he said.
Huthnance said Colliers International, which will market the property for lease, reported 22 consecutive quarters of “positive absorption” in the Atlanta industrial market, including 16.5 million square feet of space occupied in 2016.
As a result, he said his company will be looking at other metro locations for future development.
“We believe that e-commerce will continue to be a driving factor for growth and plan to seek additional opportunities in the market,” Huthnance said.
But first, the company will work on completing the project’s Phase I this winter.
When finished, it will include a 1.1 million-square-foot industrial facility, expandable to 1.3 million square feet, and the park’s infrastructure.
Phase II timing will be announced at a later date.