02/17/2020 | Press release | Distributed by Public on 02/18/2020 09:43
JLL is brokering the ±85-acre site on behalf of Diligent Investment Group
ATLANTA, February 17, 2020 -JLL Capital Markets has been selected by Atlanta-based Diligent Investment Group to exclusively market for saleCommerce Exchange, an ±85-acre development site entitled for industrial and commercial uses along Interstate 85 in the northern Atlanta-area community of Commerce, Georgia.
The Commerce Exchange opportunity comprises ±49 acres zoned for industrial uses and 35 acres zoned for commercial uses. Recently, a specialty restaurant supplier closed on a 21.47-acre portion of the site, which, prior to this sale, totaled ±105 acres. The purchaser plans to construct a 150,000-square-foot distribution facility that will be expandable up to 200,000 square feet.
Located at 1050 Steve B. Tanger Boulevard next to the Tanger Outlets, the land site is approximately 55 miles from downtown Atlanta, has 2,100 linear feet of frontage along Interstate 85 and immediate access to the interstate, which serves as the industrial backbone of the Southeast. Commerce Exchange is proximate to the SK Innovation site, which, upon completion, will be a two million-square-foot supply factory expected to be a $1.67 billion investment. Additionally, tenants will have access to major Atlanta-area transportation channels, including Hartsfield-Jackson Atlanta International Airport, the busiest operations airport in the world since 2005, and three major railways, CSX, Norfolk Southern and BNSF.
The JLL Capital Markets team marketing the property on behalf of the seller is being led by Senior Director Jamie Smithson and Analyst Conor Welton.
"Commerce Exchange is a prime opportunity to capture unique supplier and user demand orbiting the nearby SK Innovations facility," Smithson said. "Additionally, merchant capital and developers can seize a competitive speed-to-market for medium-footprint product while capturing the market's shift from bulk distribution in the I-85 North submarket."
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients - whether investment advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
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