CT Realty to develop $300m industrial park in Atlanta
CT Realty, through its affiliate Port Logistics Realty, has acquired a 213-acre parcel in Atlanta, along with an option on an adjacent 145 acres to develop a $300 million industrial project.
Palmetto Logistics Park will be a three-building, 3.5 million-square-foot industrial park.
The land for Palmetto Logistics Park was acquired in a joint venture with PGIM Real Estate and River Oaks Capital Partners.
CT Realty, Port Logistics Realty and its affiliates are engaged in a strategic expansion to meet the significant global demand from e-commerce and logistics companies for large-scale, class A industrial buildings in Tier 1 markets in the United States. Port Logistics Realty is a partnership between CT Realty and Xebec Realty, both established Southern California development firms with a long track record in the industrial sector.
“The demand for large, new class A industrial buildings in Tier 1 markets is staggering,” said James Watson, managing partner of CT Realty. “By amassing a nationwide portfolio of land ideally suited for large-scale logistics users, we can tap into and meet that demand head on and with a variety of choices.”
CT Realty and its affiliates are currently under construction on more than 8 million square feet of industrial buildings, including the 3.8 million-square-foot first phase of Southport Logistics Park in Dallas. That project, located next to a Union Pacific intermodal rail yard, will comprise 9 million square feet of industrial buildings upon completion.
CT Realty and its affiliates, including Port Logistics Realty, have assembled a national footprint by acquiring large land holdings sufficient to construct another 15 million square feet of bulk distribution facilities. Many of these projects are clustered around international infrastructure, including intermodal rail facilities, inland ports and seaports.