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.
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.
Meanwhile, Rockingham Farms Commerce Center is planned to break ground in the first quarter (Q1) of 2024.
This 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.”
