JLL awarded leasing assignment for Platinum Distribution & Rail, Atlanta’s largest rail-served distribution center
Leasing efforts ramp up as owner LRC Properties introduces repositioned, 1 million-square-foot facility to the market
Atlanta, GA (August 6, 2019) – JLL today announces the firm’s industrial brokerage team has been awarded the exclusive leasing assignment for Platinum Distribution & Rail, a 972,350-square-foot distribution center in Henry County, Ga. JLL Managing Directors Stephen Bridges and Chris Tomasulo will lead marketing and leasing efforts for the building, which is owned and operated by commercial real estate investment and management firm LRC Properties and Axonic Capital.
Recognized as the largest rail-served logistics facility in metro Atlanta, the site previously served as a Toys “R” Us distribution center before being acquired by LRC Properties earlier this year. As part of a $10 million capital improvement project, LRC Properties is reintroducing the facility to the market as Platinum Distribution & Rail. The 154-acre site has active Norfolk Southern rail service to the existing building, which has a clear height of 49’ feet. The 74 acres of additional land can provide over 2,000 on-site trailers, more than 4,000 auto spaces, or the ability to potentially expand the building by approximately 500,000 square feet.
Platinum Distribution & Rail comes equipped with a full racking system with in-rack sprinklers – a significant cost-savings for a future tenant. This also includes an automated conveyor handling system and three four-story pick stations.
“Unique clear height, surplus land and active rail service makes Platinum Distribution & Rail unlike any other offering in metro Atlanta,” said JLL’s Bridges. “We’re thrilled to have the opportunity to market this facility to a wide array of warehousing, distribution and manufacturing users, and look forward to attracting a diverse, high-quality pool of prospective tenants looking to expand or solidify their industrial footprint in the Southeast.”
Located within Atlanta’s booming South I-75 submarket, Platinum Distribution & Rail is positioned within 3.1 miles of I-75, and less than 30 miles from Hartsfield-Jackson Atlanta International Airport, the UPS Atlanta Regional Super Hub and a FedEx Ground Facility. In Q1, this submarket accounted for more than 70 percent of metro Atlanta’s total industrial absorption. According to JLL’s Q2 Industrial Insight, demand for warehousing space continues to surge as quarterly absorption reaches a staggering 3.9 million square feet.
“LRC Properties is known for its ability to successfully identify asset classes and markets with solid growth fundamentals, and we recognize the great potential in Platinum Distribution & Rail,” said Ed Kulik, founder and principal of LRC Properties. “With JLL’s industrial brokerage team onboard, we’re confident we can add maximum value to the site and leverage this facility’s unique features to attract a variety of prospects.”
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of nearly 92,000 as of June 30, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com