, Dermody Properties to Develop Atlanta-Area Industrial Campus – What is a Ground Lease?, Robert Khodadadian

LogistiCenter at Bright Star will total 181,000 square feet across two buildings. Image courtesy of Dermody Properties

Dermody Properties is getting ready to develop LogistiCenter at Bright Star, a 181,000-square-foot industrial campus in Douglasville, Ga., in the Interstate 20 West Atlanta submarket. Construction of the two-building property will start in early 2024 and completion is expected in the second quarter of 2025.

The developer acquired the land in September for $1.8 million, public records show. Hughes Commercial Real Estate Associate Mason Marsteller represented the buyer.

The rear-load facilities will be divisible by up to three tenants and take shape according to LEED standards. Building 1 will encompass 113,400 square feet, while Building 2 will comprise 68,040 square feet.

Both warehouses will feature 70-foot truck courts, 32-foot clear heights, 60-foot speed bays and two drive-in doors. Plans also call for 28 dock-high doors, 10 dock levelers and 90 vehicle parking spots at Building 1, along with 26 dock doors, eight dock levelers and 50 parking spaces at Building 2.

Rising on the north and south side of the Bright Star Connector, the facilities will provide access to Interstate 20. Interstate 285 will be some 17 miles away, while downtown Atlanta and Hartsfield-Jackson Atlanta International Airport will be within a 23-mile radius.

Dermody Properties currently owns five industrial properties in the Southeast market, amounting to more than 1 million square feet. Earlier this year, the firm purchased a 312,000-square-foot logistics facility in Garden City, Ga.

The post Dermody Properties to Develop Atlanta-Area Industrial Campus appeared first on Commercial Property Executive.

  

In the simplest form, a ground lease is a long-term net lease (usually 49 years or 99 years) of land including any improvements on the said land. Assets that can be subject to a ground lease include but are not limited to, vacant land, office buildings, and large residential buildings.

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Read MoreAtlanta, Development, Industrial, News, Southeast, Dermody Properties Commercial Property ExecutiveConstruction of the two-building project will start in early 2024.
The post Dermody Properties to Develop Atlanta-Area Industrial Campus appeared first on Commercial Property Executive. 

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