IDI Gazeley Leads New Industrial Construction in Atlanta

Announces Two New Spec Buildings Totaling Over One Million Square Feet

ATLANTA, June 19, 2014 – IDI Gazeley, a leading global full-service industrial real estate company, today announced it will begin developing approximately one million square feet of new inventory space in Atlanta. The Atlanta industrial market has had a dramatic recovery in the past year with net absorption totalling 5.8 million square feet and vacancy approaching single digits during the first quarter of 2014. 

“IDI Gazeley was the first industrial developer to start new speculative development in Metro Atlanta following the Great Recession and we are excited to build on that momentum this year,” said Lisa Ward, vice president of leasing in IDI Gazeley’s Atlanta market. “Our existing inventory space, combined with these new developments, will help us provide tenants with the competitive advantages of modern logistics space.”

In 2013, IDI Gazeley completed a 653,484 square foot building at Riverside Business Center in the I-20 West submarket. Within eight months of completing construction, the building was 72 percent leased. With the robust activity in the market, IDI Gazeley anticipates lease-up of this building by year-end.

IDI Gazeley’s confidence in the continuing strength of the Atlanta industrial market is reflected in these new investments. The new buildings will be located in the Northeast/I-85 submarket, which currently has an 8.2 percent vacancy rate for warehouse product.

Hamilton Mill Business Center, located in Gwinnett County, currently consists of seven buildings with three million square feet. These buildings are 97 percent leased to tenants including Office Depot, FedEx Freight, Daimler Trucks North America and Lund International. The business center has land available for future developments ranging from 50,000 square feet to 300,000 square feet.

IDI Gazeley plans to start vertical construction immediately at Hamilton Mill Business Center on the 13-acre, pad-ready site and will deliver the building in the first quarter of 2015. Hamilton Mill Business Center Building C, will be an approximately 196,000 square feet rear-load building with 30 foot clear ceiling heights designed to accommodate tenants of 60,000 square feet and larger. 

Jefferson Distribution Center is located in Jackson County and consists of 260 acres with direct access to I-85. Jefferson Distribution Center Building B will be an approximately 840,000 square-foot state-of-the-art, cross-dock, LEED® Certified Building with 36-foot clear ceiling height as well as offering Opportunity Zone job tax credits. Vertical construction will begin immediately on this 54-acre site, with the building being delivered in the second quarter of 2015.

IDI was acquired by Brookfield and its institutional partners in August 2013 and was recently rebranded as IDI Gazeley, part of Brookfield Logistics Properties. The platform was created to consolidate branding of Brookfield’s key logistics assets – IDI and Gazeley – under a single identity. All IDI and Gazeley sites globally will be rebranded IDI Gazeley as part of the initiative.

About IDI Gazeley
IDI Gazeley constitutes one of the top global players in the logistics property sector with 58 million square feet of premier assets and prime land sites to develop an additional 68 million square feet of distribution facilities near major markets and transport routes in North America, Europe, and China. Under the Brookfield Logistics Properties umbrella, IDI Gazeley is a part of one of the world’s largest and most sophisticated owners, operators and investors in real estate.  

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About Brookfield Property Group
Brookfield Property Group is one of the world’s largest real estate asset managers, with over $105 billion of  assets under management held in its flagship listed public entity, Brookfield Property Partners, as well as a series of private real estate funds. Brookfield Property Group provides strategic and asset management oversight over a diverse pool of real estate investments, made up of sector-specific portfolios in the office, retail, multifamily, industrial and hotel sectors totalling over 350 million square feet.

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