Joint Venture Builds 370 KSF Spec Warehouse on Infill Site
- Mar 02, 2015
Oakmont Industrial Group’s programmatic joint venture with The Carlyle Group recently announced the acquisition of a 35-acre infill land in Atlanta. The partnerships plan is to develop a 370,000 square-foot spec warehouse.
Founded in 1996, Oakmont is a locally-based fully integrated industrial real estate investment, development and management company with a portfolio of over 13.6 million square feet in 56 warehouse and distribution facilities located in various high-end business park environments. The Carlyle Group is a Washington, D.C.-based global alternative asset manager with more than $203 billion of assets under management across 129 funds and 141 fund of funds vehicles. The partners formed an entity-level investment partnership in 2011 to focus on acquiring and developing industrial real estate assets located in key U.S distribution markets.
Located in the city’s I-85 South industrial submarket, the parcel is within 1.5 miles of the nearest interchange and 5 miles from I-285. It is also in close proximity to metro Atlanta, the CSX intermodal facility and Hartsfield-Jackson Atlanta International Airport. The spec building totaling 370,000 rentable square feet will feature 36’ clear height, cross-dock loading, full concrete truck courts, Ductilcrete floor and sustainable/LEED certification. The project includes 238 parking spaces and 106 trailer spots, as well as a dedicated drive aisle around the building. This corridor will provide additional onsite truck queuing, separate access from loading areas, and the ability to secure truck courts in both single and multi-tenant scenarios. Additionally, a full-concrete flex lot will be established at the rear of the building for expanded parking, outside storage, or another dock.
The project is designed by Randall-Paulson Architects and The Conlan Company is the general contractor. Completion is expected in early fall 2015 with Regions Bank providing the construction financing. JLL’s Steve Grable, Chris Tomasulo and Stephen Bridges will be in charge of leasing operations.
Photo credits: Oakmont Industrial Group