ATLANTA, GEORGIA (January 28, 2021) – CA Ventures (“CA”), the global vertically integrated real estate investment management company, today announced it has entered into a joint venture partnership (JV) to deliver a 215,000 square foot, front-load, class A light industrial facility. The project, dubbed Coweta Business Center, is located in Newnan, GA, one of Atlanta’s most active industrial submarkets.
“CA has had boots on the ground in the greater-Atlanta area for years and this project reiterates our commitment to investing in a market that has demonstrated such impressive growth and diversification,” said Steve Rowley, senior vice president and market officer for CA’s industrial division. “Newnan is a particularly attractive submarket given its proximity to the I‑85 South corridor, the fastest-growing super-region in the country, and Hartsfield-Jackson Atlanta International Airport, the busiest airport in the world. We’re proud to be able to deliver on a product and location that is comprehensively aligned with tenant needs.”
The project will feature 32-foot clear heights, 200 auto parking spaces and up to 55 dock doors with full truck circulation around the building. The site’s I‑85-adjacent location is less than one mile from the full diamond interchange at Exit 51, which is critical for distributors seeking last‐mile delivery service to metro Atlanta, as well as bulk distribution to the growing southeastern markets along the I‐85 corridor, also known as the ‘Boom Belt’, in Georgia and the Carolinas. Coweta Business Center is scheduled to break ground later this year and will be completed in December 2021.
“Coweta Business Center is a wonderful addition to CA’s growing industrial portfolio”, said Michael Podboy, president of industrial for CA. “This is a differentiated product in an optimal location within a strategic, primary growth market. The project is an excellent representation of our investment strategy execution and consumer-centric approach. Tenant demand is mirroring the exponential growth of the e‑commerce industry — a dynamic that has only been amplified by the pandemic. There is nothing but opportunity on the horizon and CA is well-positioned to support the continued expansion and innovation of the sector.”
Over the past year, CA has delivered more than 530,000 square feet of state-of-the-art warehouse and distribution facilities in premier locations in some of the top growth markets across the United States.
Wes Budd and Chris Irby of NAI Brannen Goddard represented CA in the acquisition of the land and will also be leasing the project. Mark Sixour, Dennis Mitchell, Matt Wirth and Britton Burdett of JLL Capital Markets arranged the joint venture partnership.