Atlanta Commercial News: UPS to Build Distribution
Atlanta is a national hub of commercial real estate activity today, and as such, it can be hard to keep up with all of the industry developments and announcements. This week, national conglomerate UPS announced they have signed a lease with Majestic Realty Co. to build their largest distribution facility in the country – right at Charlie Brown Airport. Majestic Realty will lease 250-acres to make it all possible.
In total, the new 1.5 million-square-foot distribution center, to be developed by Majestic, will reportedly be capable of sending 100,000 packages per hour through the facility. That’s an unprecedented amount of cargo moving. Also announced with the confirmation, UPS expects it to be fully functioning and operational by November 1, 2017 – just in time for the holiday rush.
UPS selected Majestic as they have a 50-year ground lease at the 985-acre airport, which is presently owned by the city of Atlanta. They plan to provide additional infrastructure during the build out, including a new $1.1 million operations center and now 20 new hangars for the aviation field, which is most commonly known as Charlie Brown Airport.
The announcement comes at a time when Atlanta is seeing a decrease in industrial and commercial property vacancies after a rough past 10-years following the Great Recession. Today, there are reportedly 14 million square feet presently under construction, with more to come after the announcement of this UPS distribution center. Industrial and commercial rental rates are going up, which is only indicative of a healthy and burgeoning sector, expected to witness significant expansion in coming months.
Stay tuned for updates regarding the UPS center build out and official opening.