Cushman & Wakefield has arranged a 105,000-square-foot lease for Ferguson Enterprises Inc. at a newly developed warehouse at Majestic Airport Center III, located in Union City, Georgia. Gordon Benedict, Director of Cushman & Wakefield’s Industrial Tenant Representation Group, represented the tenant, and the landlord, Majestic Realty Co., was self-represented in the lease transaction by Will Lombard.
“This is a perfect location for Ferguson Enterprises to continue to reach the growing residential and commercial contractor business on the southside of Atlanta, especially in cities like Newnan, Peachtree City and Fayetteville,” Benedict said. “Atlanta has more finished buildable lots on the ground than anywhere else in the U.S., but the southside is seeing its inventory beginning to decline due to a recent surge in new construction activity.”
Atlanta’s single-family annual starts totaled 20,449 units over the 12 months ending in the second quarter of 2016, up 13 percent year-over-year, the highest construction-starts level in eight years.
The building, located at 6730 Oakley Industrial Blvd. in metro Atlanta’s I-85 submarket, is within the boundaries of an existing Opportunity Zone, which qualifies users to take advance of a job tax credit equal to $3,500 per employee every year for a period of five years. The warehouse includes 30-foot clear heights, 31 dock-high doors and parking for 31 trailers.