CT Realty-Led JV Inks 1.1M-SF Lease at Georgia Logistics Park
Newport Beach, CA-based CT Realty and its affiliates completed the first phase of development at Palmetto Logistics Park in Fairburn, GA in South Fulton County. The venture also signed a more than 1.1-million-square-foot lease with Drive DeVilbiss Healthcare.
The global manufacturer of respiratory and ambulatory medical products plans to take occupancy by the end of the year. Terms of the lease were not disclosed.
CT and affiliate Port Logistics Realty partnered with River Oaks Capital Partners in a JV with Prudential Global Investment Managers in 2017 to acquire the initial 213-acre parcel. The second phase, a more than 1-million-square-foot distribution facility, will commence development in January, and is slated for completion in Q4 2019.
The venture also controls an additional 147 acres for two subsequent phases at the 3.5-million-square-foot logistics park near Hartsfield-Jackson Atlanta International Airport.
Cushman & Wakefield’s Jason Goldman and Bob Robers represented the tenant. Colliers International’s Ben Logue and Price Weaver advised the JV.