10-29-2013 03:44 PM

Colliers: 7 million square feet of projects over the next year

McMaster-Carr Supply Co

Atlanta, home to one of the country's largest distribution and warehouse hubs, continues to see construction pick up in its industrial sector, a trend that likely reflects stronger economic growth.
A turnaround in the housing industry, the resurgence in manufacturing, and the expansion of e-commerce are fueling recent build-to-suit projects and similar developments in the pipeline, according to a new report from Colliers International.
Two of the largest build-to-suit projects this year were announced in the third quarter, including an 800,000-square-foot distribution center for TJX Companies Inc. (NYSE: TJX) in Jackson County northeast of Atlanta.
Atlanta-based real estate company Industrial Developments International is the developer. TJX Companies operates discount apparel and home fashions retailers including T.J. Maxx.
In September, Atlanta Business Chronicle reported industrial materials giant McMaster-Carr Supply Co. would develop a more than $75 million regional headquarters and e-commerce center on a suburban campus just west of Atlanta. That 700,000-square-foot project is destined for Riverside Parkway in Douglas County.
Majestic Realty is also working on another development near Hartsfield Jackson Atlanta International Airport and could be near locking up a tenant on another project. Majestic Realty Co. planned to meet Sept. 4 with Fulton County commissioners to discuss options for developing the Fulton County Airport site. Cincinnati-based Kroger (NYSE: KR), the nation’s largest supermarket chain, has been considering between 1 million and 1.5 million square feet for a new development, including a distribution center, freezer component and truck maintenance facility.

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Douglas Sams covers Commercial Real Estate

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