HFF announces $10.97M financing for development of spec industrial building near Atlanta
ATLANTA, GA – April 24, 2018 – Holliday Fenoglio Fowler, L.P. (HFF) announces the $10.97 million construction financing for the development of a 281,025-square-foot, speculative, Class A industrial building in the Atlanta-area community of Fairburn, Georgia.
The HFF team worked on behalf of the borrower, Stream Realty Partners, to place the four-year, non-recourse, floating-rate loan with Brand Bank.
Situated on a 25.7-acre site at 7375 Graham Road, the property will border Interstate 85 on the northwest side and is less than a block north of Oakley Industrial Boulevard, the main industrial corridor within the Fairburn submarket. The site is 18.5 miles from downtown Atlanta and 10 miles south of Hartsfield-Jackson International Airport. Once completed, the building, which could be divided into four suites with separate entrances and office space, will have 32-foot clear heights and rear loading doors. The building is expected be completed within 11 months.
“Graham Logistics Center is a unique development with the ability to accommodate up to four individual tenants,” said William Stark, managing director at Stream. “Our project will be able to exceed market standards by developing excess acreage into additional trailer storage, container storage or personnel parking. This will be one of the only highly amenitized new buildings available to mid-sized industrial users.”
“Mid-sized users are demanding new construction,” added Vice President Bradley Dunn, who leads Stream’s industrial division in Atlanta. “This type of space is scarce in Atlanta, and rental rates are increasing quickly. Graham Logistics Center is well positioned to meet these tenant’s needs.”
The HFF debt placement team representing the borrower included managing director Gregg Shapiro and analyst Matthew Beam.
“Graham Road is a unique industrial distribution development in that it is designed to accommodate smaller users in a market that has been predominated by new construction of very large industrial distribution facilities,” Shapiro added.
About Stream Realty Partners
Stream is a commercial real estate firm with locations across the country. The company's full-service offerings cover the broad spectrum of leasing, management, development, construction and investment sales services. In addition, Stream specializes in sourcing investment opportunities for the firm and its clients. Since its formation in 1996, Stream has executed $2.7 billion of acquisitions and developments totaling 27 million square feet of office, industrial, data center and retail properties. Stream currently leases and/or manages over 130 million square feet across the nation, including 17 million square feet of owned properties. Visit streamrealty.com.
HFF and its affiliates operate out of 26 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.