Hartz Continues Southeast Commercial Acquisitions

On Oct 17, 2014

Secaucus-based Hartz Mountain Industries continues to secure assets in growing Southeastern United States markets with the acquisition of a 2.5 million square foot portfolio consisting of 35 buildings in North Atlanta.

This move comes after it recently secured a 575,718-square-foot Class A warehouse currently occupied by Hanes Brand, Inc., at 219 Commerce Blvd. in Kings Mountain, NC, just west of Charlotte, and the 278,586-square-foot, Class ‘A’ industrial property located in the Baltimore-Washington Corridor at 7448 Candlewood Road in Hanover, MD.

These are the first transactions for Hartz in Atlanta and Charlotte and the third in the Baltimore port market, bringing its nationwide portfolio consisting of warehouse/industrial, datacenter, office, retail and hospitality assets to more than 35 million square feet.

“The Panamex expansion of the Panama Canal created additional transportation options to and from the Orient and the West Coast, making East Coast locations in large and growing areas more relevant,” said Emanuel Stern, CEO and President for Hartz Mountain Industries.  “Population growth in cities like Charlotte and Atlanta make Baltimore and other markets in the Southeast more appealing for us and other companies to expand their businesses into as well.”

The North Atlanta portfolio consists of three developments: Peachtree Corners I on Jimmy Carter Blvd., Adriatic Ct., Atlantic Blvd. in Norcross, GA; Peachtree Corners II on Kingston Ct.; and Kennestone Corners on Kennestone Circle, and is more than 93 percent occupied.  Hartz found these properties appealing both for their proximity to major interstates 1-75,

1-575 and 1-285, the airport, and two railroad systems, and their location within a market with limited room for additional development which will reduce competition for future warehouse business.

219 Commerce Blvd. in Charlotte is situated within a one day’s drive of 60 percent of the country because of its proximity Interstate 85, widely considered the industrial backbone of the Southeast, Interstate 77, and Interstate 40, one of the nation’s largest interstates that runs from North Carolina to California.

Hanes Brand, Inc. recently signed a long-term lease, and since moving into this location in 1999, Hanes Brand, Inc. expanded the site on 2002 in and recently completed a second expansion of 100,000 addition square feet to accommodate for the brand’s continued growth.

It is on 38 acres and features 31′ – 35′ minimum ceiling heights, an ESFR sprinkler system, roof-mounted HVAC heating and cooling units, and 50′ x 50′

interior column spacing, and 33 8′ by 10′ dock doors with 19 knockout panels for future dock doors.  The building is also nearing completion of a 100,000 square foot expansion.

Related Articles: