JLL awarded leasing assignment for Prologis RiverWest III in Lithia Springs
1.1 million-square-foot industrial building ready for occupancy in October 2022
JLL Atlanta has been awarded the exclusive leasing assignment for Prologis RiverWest III, a 1.1 million-square-foot industrial facility currently under construction in Lithia Springs, 16 miles west of Atlanta. JLL’s Ryan Hoyt, Stephen Bridges and Reed Davis will lead marketing and leasing efforts on behalf of the owner, Prologis, the global leader in logistics real estate.
Delivering this October, Prologis RiverWest III will encompass 1,110,960 square feet of build-to-suit warehouse space and 2,550 square feet of office space across 82.5 acres, making it the largest industrial facility in the I-20 West submarket. The building is equipped with LED lighting, 40’ minimum clear heights, two grade-level doors, 218 dock-high doors and 326 trailer parking stalls.
“The delivery of Prologis RiverWest III comes at a time of unprecedented growth in Atlanta’s industrial market, and this is an incredible opportunity for a tenant to take advantage of state-of the-art warehouse space in a submarket as desirable and competitive as Lithia Springs,” said JLL’s Hoyt. “Prologis is a powerhouse in the industry, and the building’s strategic location in a land-constrained area, paired with its access to talent, will be highly attractive for logistics users looking to grow or establish a footprint near metro Atlanta.”
Prologis RiverWest III is located in close proximity to I-285 and Hartsfield-Jackson Atlanta International Airport, making it ideal for local and regional distribution. Just one mile south of the I-20 West/Thornton Road Interchange, Prologis RiverWest III is located in Douglas County which is home to a strong labor pool of almost 7,000 resident manufacturing workers and over 10,500 logistics workers. The park is strategically positioned near multiple logistics facilities including a global technology company and a multinational transportation and e-commerce service.
“We are thrilled to bring RiverWest III to life and believe it will be a top choice for prospective customers,” said Cassie Hanavich, Director of Leasing at Prologis. “This project is another strong testament to our commitment to Atlanta and confidence in the market’s booming industrial sector. We’re confident that JLL’s team will successfully market RiverWest III’s best-in-class advantages.”
According to JLL’s Q4 Industrial Insight, Atlanta’s industrial market shattered records, surpassing 36 million square feet of annual absorption and logging the lowest vacancy ever recorded at 3.6%. Demand outpaced supply by 16.6 million square feet at year-end, but with 34 million square feet currently under construction, JLL predicts that new deliveries this year will play a key role in continuing to attract high-growth logistics users to the market.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $19.4 billion, operations in over 80 countries and a global workforce of more than 98,000 as of December 31, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.