Core5 Logistics Center at Shugart Farms is First Development to Hit Market in Atlanta
ATLANTA, December 28, 2015 – Three of Atlanta’s veteran industrial real estate professionals, in conjunction with Kajima USA Group, announced the formation of Core5 Industrial Partners, a real estate property company focused on development and acquisition of Class A industrial properties. The company has commenced development in Atlanta with plans to expand to all of the key logistics markets throughout the US over the next three years. Kajima USA stepped forward in 2015 to capitalize the company with a leadership team from previous employees of its successful industrial company, IDI, which developed over 175 million-square-feet of Class A properties over a 25 year period prior to selling the company in October 2013. Leading Core5’s efforts are Tim Gunter as President and CEO, Linda Booker as CFO and Lisa Ward as Senior Vice President and Managing Director. The 175 year-old Japanese powerhouse, Kajima Corporation, owns Kajima USA which offers real estate development services, along with architectural, engineering and construction services through a national network of specialized companies in the US. Representing Kajima’s industrial real estate investment, Core5 focuses on development and acquisition of Class A industrial properties throughout the United States.
To take advantage of the financial strength of its parent, Core5 plans to finance most deals on its balance sheet and to have a substantial equity commitment in the products it develops. Core5 also plans to co-invest with other financial partners as well to grow its platform nationally.
”The US market continues to offer significant opportunities for accretive development and we have considerable capital resources to finance deals that take advantage of attractive market conditions, said Tim Gunter, President and CEO for Core5. We’ve been evaluating several markets and specific opportunities and our pipeline is robust going into 2016. We feel good about where we are going.”
Core5 Logistics Center at Shugart Farms, the company’s initial development, is already under construction with a 873,800 square foot state-of-the-art industrial facility, located in the I-85 South/Airport market in Fairburn, Georgia, just south of Atlanta’s city center less than 10 miles from Hartsfield Jackson International Airport. The Airport Submarket has been the most active submarket in Metro Atlanta, landing several Fortune 500 companies for largescale distribution and e-commerce fulfillment center over the last year. The new facility, with anticipated delivery in 3Q 2016, will offer all the key elements desired by end-users including: 36’ clear height, significant trailer and auto parking, immediate access to key supply chain infrastructure, an outstanding labor pool from which to draw employees along with close proximity to rooftops of Metro Atlanta. Core5 Industrial Partners selected SunTrust as its financing partner for the project.
“We’re in a position to have a very active year in 2016, said Core5’s Lisa Ward, Senior Vice President and Managing Director overseeing development and acquisition activities in the southeastern United States. We’re excited about the new product coming out of the ground in Atlanta while at the same time, equally motivated to break into other key logistic markets in the US. For 2016, Core5 has identified approximately 5 million square feet of anticipated development starts in Metro Atlanta and three additional key logistics markets. The future for Core5 looks very bright.”
About Core5 Industrial Partners
Core5 Industrial Partners is an industrial real estate property company with expertise in development and acquisition of inventory and build-to-suit facilities of Class A industrial properties. Headquartered in Atlanta, Georgia, Core5, named for its five core business principles, was capitalized in 2015 by Kajima USA Group, whose $2 billion industrial holdings were sold in 2013. With current activity in Atlanta, Georgia, Core5 expansion plans include the key logistic hubs throughout the US. For more information on Core5 Industrial Partners, visit www.core5.ydodev.com.