Stream Realty, AEW Capital Team Up on Atlanta Projects

Stream Realty Partners and AEW Capital Management will develop two speculative industrial properties in Atlanta’s Airport and Northwest submarkets totaling more than 768,000 square feet. The properties—Union City Logistics Center and Adairsville Logistics Center—are slated for completion by the second quarter of 2023.

Stream, a national real estate services, development and investment firm, will provide construction management, leasing and property management services at both properties. Stream Executive Managing Director and Partner Justin Robinson will oversee development. Virginia Crabtree, senior vice president of construction, and Isaac Weeks, senior construction associate, will lead construction management efforts. Vice Presidents Nick Peacher and Scott Jones will lead leasing efforts. Evans General Contractors will serve as the general contractor.

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Josh Heller, head of acquisitions at AEW Capital Management, said in a prepared statement the national real estate investment management firm recognizes the dynamic growth of the Atlanta industrial market. He said the two new developments should deliver premium warehouse space that should be attractive to a wide range of potential tenants.

Adairsville Logistics Center

Located at 3048 U.S Highway 41 in Adairsville, Ga., the property in the Northwest submarket will have 408,240 square feet of space. Features will include a 2,500-square-foot speculative office suite, 66 dock-high doors, two drive-in ramps, 36-foot clear heights and a 60-foot speed bay. The building will include LED interior lighting and Early Suppression, Fast Response (ESFR) sprinklers.

Adairsville Logistics Center. Image courtesy of Stream Realty Partners

The distribution center will have three entry points from Highway 41. It will also have easy access to I-75 and be equidistant from Atlanta and Chattanooga, Tenn. Dalton, Ga., the carpet capital of the world, is 28 miles to the north and downtown Atlanta is about 63 miles to the south.

Union City Logistics Center

Union City Logistics Center will be developed at 4811 Flat Shoals Road in Union City, Ga., in the Airport submarket, Atlanta’s second-largest industrial submarket. The building will feature a 2,500-square-foot speculative office space, 68 dock-high doors, two drive-in ramps, 36-foot clear heights, 119 trailer stalls and 137 car parking spaces. The property will also have motion-sensing LED interior lighting and ESFR sprinklers.

Union City Logistics Center. Image courtesy of Stream Realty Partners

The property will be situated off I-85 and within 4 miles of the CSX Intermodal Terminal in Fairburn, Ga. Hartsfield-Jackson International Airport is 12 miles away.

Stream Realty projects

Stream Atlanta leases and manages more than 14.2 million square feet of industrial space. But Dallas-based Stream is active in major industrial markets across the U.S. The company completes more than $5.8 billion in real estate transactions annually as an investor and developer.

In late August, Stream started construction on Interpark Logistics Center, a five-building, 689,215-square-foot industrial complex in San Antonio, Texas, that is slated for delivery in August 2023. The property, which will be a mix of Class A office and warehouse buildings, will be located across from San Antonio International Airport and within 12 miles of downtown San Antonio.

Also in August, Stream completed the second phase of Empire West Business Park, a six-building, 2.3 million-square-foot industrial development in the Houston area. The Brookshire, Texas, project’s first phase was completed last year. A third phase is in the planning stages and would consist of two distribution centers totaling 800,000 square feet.

Other recent Stream industrial projects in Texas include 20 East at 12955 FM 2932, a 3.4 million-square-foot industrial development in Mesquite and the Portside Logistics Center, a 1 million-square-foot, two-building development in Baytown.