Amstar and Huntington Break Ground on a Second Speculative Industrial Development in Atlanta
Amstar, a Denver based real estate investment manager acting on behalf of one of its public retirement system clients, announced today the groundbreaking of Skyview Distribution Center, a 225,000 sf state-of-the-art light industrial building located in the I-20 West submarket of Atlanta, GA.
Denver, Colorado, September 29, 2015 (Newswire.com) - Amstar, a Denver based real estate investment manager acting on behalf of one of its public retirement system clients, announced today the groundbreaking of Skyview Distribution Center (“Skyview”), a 225,000 sf state-of-the-art light industrial building located in the I-20 West submarket of Atlanta, GA. Amstar and development partner, Huntington Industrial Partners (“HIP”), acquired the land in December 2014. Skyview will feature a front-loading configuration, 32’ clear height and ample trailer parking. The property is located less than a mile from I-20, four miles from the Norfolk Southern intermodal yard and 16 miles from the Hartsfield-Jackson Airport. Completion is scheduled for first quarter 2016.
With nearly 4.0 million square feet currently under construction, Amstar remains focused on providing superior risk-adjusted returns by acquiring exceptional construction-ready sites in strong U.S. industrial markets and adding value through the development and leasing of institutional quality Class A product. “Skyview is located in one of Atlanta’s best submarkets and will allow Amstar to capitalize on the market’s record low vacancy rates and record high absorption numbers,” said Tricia Noble, Managing Director at Amstar. Skyview is Amstar and HIP’s second speculative development to break ground in Atlanta, as construction is nearing completion on Fairburn 85, a 317,000 sf cross-dock distribution building in the I-85 South submarket.
"Skyview Distribution Center is consistent with Huntington's development strategy of providing state-of-the-art-buildings in high-velocity submarkets of major industrial cities like Atlanta. Skyview's 32' clear height, ESFR sprinkler system, trailer storage and ability to be secured is extremely unique in this market," said David McDaniel, Partner of Huntington Industrial Partners.
About Amstar
Established in 1987 and headquartered in Denver, Colorado, Amstar is a real estate private equity company that acquires, develops and manages all major property types in the United States and in select international markets. In the United States, Amstar focuses on investing in high-quality and well-located office, multifamily, industrial, retail and hotel properties with value-add risk profiles. Currently, Amstar and its clients utilize perpetual separate account structures which grant the flexibility needed to optimize risk-adjusted returns through multiple market cycles. Amstar is a privately-owned company with over 66 professionals, and is based on a culture of trust, integrity, and respect. For more information, visit www.amstar.com.
About Huntington Industrial Partners
Huntington Industrial Partners is an industrial real estate operating company with a strategic focus on acquiring and developing infill industrial properties in select U.S. markets. Huntington has offices in Atlanta, Dallas, Denver and Southern California that are staffed by local teams with extensive industrial experience, local market knowledge and established networks of market contacts.