Holder Properties JV Lands $71M for Atlanta-Area Project
Holder Properties and Tamarack Investments have secured $46 million in construction financing and $25 million in joint venture equity for the development of a 608,642-square-foot industrial facility in Cumming, Ga.
Pinnacle Financial Partners provided the construction loan while Hartford Investment Management Co. contributed the joint venture equity. JLL represented the developers in both transactions.
Coal Mountain Industrial Park is set to rise at 4005 Settingdown Road and will be delivered in phases starting in 2026’s second quarter.
READ ALSO: Emerging Industrial Markets in the U.S.
Plans call for three rear-load buildings, measuring 146,000, 250,150 and 212,500 square feet. Features will include 32- to 36-foot clear heights, TPO roofing, concrete tilt-wall construction and 60-foot dock bay depths.
Coal Mountain Industrial Park is positioned near Georgia State Route 400. DeKalb-Peachtree Airport is 37 miles away, Marietta, Ga. and Atlanta are both within 47 miles, while Hartsfield-Jackson Atlanta International Airport is within 54 miles of the project.
JLL Capital Markets Managing Director Bobby Norwood, Associate Hamp Gibbs and Analyst Streeter Simmons led negotiations on behalf of the borrowers.
Big projects push Atlanta’s pipeline
Recent industrial developments that are moving forward in metro Atlanta include PNK Group’s Park Southern Gateway, an industrial campus expected to include 3 million square feet across four buildings, in McDonough, Ga. In March, the developer completed PNK Lambert A as part of that project.
In February, the first phase of Jackson 85 North Business Park came online in Pendergrass, Ga., encompassing 1.6 million square feet. At full build-out, the Trammell Crow Co. and CBRE Investment Management project is planned to encompass 2.3 million square feet.
Atlanta ranked among the top 10 best-performing markets for industrial development, with an 8.6 million-square-foot pipeline as of March, according to the latest CommercialEdge report. This amount represented 1.5 percent of its exiting stock—below the national average of 1.7 percent.
Atlanta placed fourth among Southern markets, behind Memphis, Tenn. (12.5 million square feet), and Houston (14,7 million square feet). Dallas-Fort Worth led both Southern and national rankings, with a pipeline comprising 24.8 million square feet.
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