Qcells Signs 843 KSF Georgia Lease

A solar panel manufacturer signed an 843,000-square-foot lease at Busch Commerce Center in Cartersville, Ga. The new tenant is Qcells North America, according to Bisnow. MDH Partners and CF Real Estate Investments are the owners of the 1.2 million-square-foot distribution center.

NAI Brannen Goddard Managing Director Darren Butler and President Nathan Anderson represented the ownership in the agreement.

Last year, Qcells, a subsidiary of Hanwha announced a $147 million expansion in Cartersville. Plans call for a new manufacturing facility expected to come online this summer, the official website of the State of Georgia reports.

The developer started construction on the Class A speculative building in May 2022 and completed it last fall. The cross-dock property features 40-foot minimum clear heights 223 dock-high loading doors, four ramped drive-in doors, 60-foot speed bays and 262 trailer stalls. The facility also has 610 car parking spaces and a 185-foot truck court.

Busch Commerce Center is at Cass White Road, providing easy access to Interstate 75. Downtown Atlanta is 50 miles away, while the Maynard H. Jackson Jr. International Airport is within 59 miles southwest.

In October, the company also signed a 655,000-square-foot, full-building leasing agreement at Beltway Logistics Center near Savannah, Ga.

MDH Partners’ recent industrial expansion

MDH Partners currently has more than 35 million square feet of industrial space under management across 30 cities. In June, the company landed $90 million in acquisition financing from Wells Fargo Bank as part of its Fund II that raised $750 million of equity.

A month earlier, the firm acquired a 1.4 million-square-foot industrial portfolio from Core5 Industrial Partners. The two buildings came online in 2022 and were fully leased at the time of sale.