InLight Real Estate Partners Setting the Stage for Tremendous Growth in the Atlanta MSA
Georgia has rapidly become a destination for companies seeking a national distribution presence. The state offers a business-friendly environment, tax incentives, and convenient proximity to prominent East Coast container ports. Approximately 80% of U.S. consumers are reachable within a two-day drive from Atlanta, via major interstates I-75, I-20, and I-85.
The Atlanta metro contains a strong logistics infrastructure, along with the world’s busiest international airport. For corporations looking to attract skilled talent to their operations, the city and surrounding area populace of over seven million provides an ample workforce. Compared to other top logistics markets around the country, Atlanta offers value and efficiency, while providing a rental discount to tenants, particularly relative to coastal distribution hubs.
Atlanta’s industrial real estate market is currently experiencing record low vacancy rates with historically high demand for both modern distribution space and outdoor storage facilities, creating market opportunities that fall in line with our core strategies. Our goal is to have a meaningful presence in all the major distribution corridors stemming from the core of Atlanta, to complement our projects at infill locations. Over the past 14 months, in the Atlanta market, we have closed on the acquisition of nine industrial real estate projects, including five assemblages across 18 purchase and sale agreements.
Eight of these new projects are development sites. Of these eight, five are allocated for modern dock high distribution facilities (see image above), with an aggregate capacity of over 4,200,000 square feet situated on nearly 400 acres. The other three locations will be spec industrial service facilities, also known as supply chain infrastructure properties. These range from 8 to 25 acres each. The ninth acquisition was a stabilized cold storage and distribution property.
In addition to these projects, InLight has several acquisitions of existing facilities under contract. These include three stabilized industrial service properties and two value-add distribution facilities. These facilities total over 850,000 square feet and are strategically located in under-served logistics nodes.
This pipeline represents the beginning stages of a significant investment that InLight is making in Atlanta and its surrounding areas. We are excited to take advantage of the tremendous growth opportunities in north Georgia, while striving to be good stewards for the community, our partners, and our clients.
Inlight Real Estate Partners- Atlanta