INDUS Realty Trust has formed joint ventures (JVs) with Scannell Properties for the development of Class A industrial properties in the Atlanta and Savannah markets within Georgia, US.
The projects include Chastain Crossings in Atlanta and Rockingham Farms Commerce Center in Savannah. INDUS is a US-based industrial/logistics real estate business.
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Chastain Crossings began construction in December 2023 and is expected to deliver two buildings totalling approximately 440,000ft² by late 2024.
Chastain Crossings is located off Chastain Meadows Parkway in Kennesaw within the I-75 North submarket, around 25 miles north-west of Downtown Atlanta.
Sean Boswell and Harrison Marstellar from Colliers Industrial Services Group are in charge of leasing for this project.
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Meanwhile, Rockingham Farms Commerce Center is planned to break ground in the first quarter (Q1) of 2024.
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By GlobalDataThis project will consist of four buildings totalling one million square feet to be constructed in two phases.
The first phase will include two buildings, each sized 284,580ft².
Hilary Shipley and Danny Chase from Colliers Industrial Services Group will manage leasing for Rockingham Farms Commerce Center.
It is to be located off a new interchange on Veterans Highway.
INDUS recently collaborated with Scannell to develop a 231,000ft² industrial building in Rock Hill. It was delivered in December 2023 and is currently 76% leased.
INDUS’ growth strategy focuses on acquiring and developing high-quality industrial properties in rapidly expanding and high-performing geographic markets.
In October 2023, INDUS acquired a two-building industrial portfolio totalling 184,000ft² in Nashville, which is now fully preleased to three tenants.
INDUS president and CEO Michael Gamzon said: “We are excited to once again team up with Scannell, noting these will be the fourth and fifth projects we have worked on together.
“Scannell is a great partner and has a strong reputation for delivering high-quality, well-designed industrial developments in excellent locations.”
