NAIOP Georgia Awards Majestic Realty with Industrial Deal of the Year

    ATLANTA, GA, December 18, 2014 /24-7PressRelease/ -- Atlanta's largest active build-to-suit development, with Majestic Realty Co. as the site's developer, was named NAIOP Georgia's Industrial Deal of the Year at the 26th Annual NAIOP Awards Programs & Meeting on Dec. 4, where the Office Deal of the Year, NAIOP Volunteer and Associate Firm of the Year awards were also announced.

The Wal-Mart Stores Inc.'s 1.2 million-square-foot- e-commerce distribution center in Union City, a Fulton County municipality, will create 400 jobs in the area, with Walmart expected to invest $108 million in the project. The deal was officially announced in October and Majestic Realty plans to be completed with the development in the second quarter of 2015.

"After we completed Atlanta's previous largest build-to-suit development for Procter & Gamble, also in Union City, we have established a lasting partnership with the city that will be a huge, positive asset in developing this project," said Stan Conway, Majestic Realty senior vice president and director of the development. "The area is seeing a surge of jobs and investment through the resurgence of commercial real estate and exploding growth of e-commerce facilities. It's putting a great Georgia city on the map."

The cutting edge center sets a precedent for future e-commerce facilities through a number of high-tech features, such as automated material handling. The site and Majestic Realty have overcome several major challenges including figuring how to bring a sewer line more than 7,000 feet to serve the site and moving a major gas line 2,000 feet. The building is expected to be completed in only nine months.

"This monumental project is the broadest construction activity the warehouse sector has seen since the recession," said Conway. "This is more than just a deal for the books - it's setting a standard for other industrial projects across the nation."

With the Walmart deal, Los Angeles-based Majestic Realty now owns and manages more than 10 million square feet of industrial space in Union City. On the horizon for Majestic Realty are three speculative buildings including a 1 million-square-foot facility at the Walmart site in addition to two buildings of 100,000 square feet and 150,000 square feet at the nearby Majestic Airport Center III.

About Majestic Realty
Majestic Realty was founded in 1948 and is the largest privately held developer and owner of master-planned business parks in the U.S. Based in LA, Majestic is still family owned, with offices in six states. It has developed over 80,000,000 sf across the country, including developments in LA, Dallas, Las Vegas, Denver, Salt Lake City, Bethlehem, Pennsylvania and Atlanta. Majestic offers a suite of fully integrated services, including: Land Acquisition/Entitlement, Master Planning/Development, Environmental Assessment, Design/Construction, Financing, Leasing, Project Financial Reporting/Variance Analysis and Property Management.

Related entities include Majestic Realty Co., Commerce Construction Co., Majestic Management Co., Majestic Realty Retail, Majestic Realty Foundation and C.C.C. Rental, L.P.

The Atlanta office, managed by Executive Vice President, Director of Development and Board Member Stan Conway, was opened in 1996 and has since built more than 11.5M sf of premier warehouse/distribution space. Local parks include Majestic Airport Center I, II and III, Majestic King Mill, Golden Park Commerce Center, Reservoir Associates and Majestic Norcross. Majestic's Atlanta office was recently one of the first firms to begin building large spec industrial buildings after the Great Recession.

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