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BOSTON, Oct. 4, 2021 /PRNewswire/ - Manulife Investment
Management, together with Reliant Real Estate Partners ("Reliant"),
today announced the signing of a 1,000,000 square foot lease at
Locust Grove Distribution Center.
CJ Logistics America signed a full-building, long-term lease at
700 Price Drive in Locust Grove,
Georgia. Part of a 311-acre business park, Locust Grove
Distribution Center is a recently constructed, state-of-the-art,
Class A industrial facility featuring dedicated ingress and egress,
36' clear heights, ample trailer parking, and 146 dock doors.
Atlanta, Georgia is the largest
industrial market in the southeast and fourth largest in
the United States. The city's
mature and extensive transportation network includes the busiest
passenger airport in the world, three major interstate highways,
and the port of Savannah within a
three-hour drive. This location provides excellent access to both
local and regional distribution, convenient amenities, and access
to a highly skilled and growing labor force.
"Locust Grove Distribution Center was developed as a strong core
industrial asset in one of the best performing industrial markets
in the country," said Erik
Gustafson, head of U.S. real estate asset management at
Manulife Investment Management. "Not only did it allow us to expand
our industrial portfolio in the U.S., but to provide the perfect
opportunity for a growing company to expand in the southeastern
region."
"Atlanta's industrial market is
experiencing record net absorption, solid rental rate growth, and
historic low vacancy rates, which is a testament to the region's
pro-business environment," said Tyler
Fann, co-founder and principal of Reliant Real Estate
Partners. "Locust Grove Distribution Center is well positioned to
not only be a sound investment for Manulife Investment Management,
but to also help CJ Logistics drive continued growth in its
business."
Reliant's Tyler Fann and
Adam Richards oversee industrial
leasing for Locust Grove Distribution Center. CJ Logistics America
was represented by Lynn Reich,
Suzanne Serino, Sean Boswell, and Scott
Plomgren of Colliers International.
Manulife Investment Management develops and manages commercial
real estate for thousands of customers around the globe as part of
its comprehensive private markets' capabilities. As of June 30,
2021, the real estate portfolio totals over 62 million square feet
of office, industrial, and retail space strategically located in
markets across Canada, the U.S.,
and Asia. The group leverages its
global platform and local expertise to provide market-leading
solutions for its tenants and deliver results for its
partners.
About Manulife Investment Management
Manulife Investment Management is the global wealth and asset
management segment of Manulife Financial Corporation. We draw on
more than a century of financial stewardship and the full resources
of our parent company to serve individuals, institutions, and
retirement plan members worldwide. Headquartered in Toronto, our leading capabilities in public
and private markets are strengthened by an investment footprint
that spans 18 geographies. We complement these capabilities by
providing access to a network of unaffiliated asset managers from
around the world. We're committed to investing responsibly across
our businesses. We develop innovative global frameworks for
sustainable investing, collaboratively engage with companies in our
securities portfolios, and maintain a high standard of stewardship
where we own and operate assets, and we believe in supporting
financial well-being through our workplace retirement plans. Today,
plan sponsors around the world rely on our retirement plan
administration and investment expertise to help their employees
plan for, save for, and live a better retirement.
As of June 30, 2021, Manulife
Investment Management's assets under management and administration,
including assets managed for Manulife's other segments, totaled CAD
$1.0 trillion (US $834 billion). Not all offerings are
available in all jurisdictions. For additional information,
please visit manulifeim.com.
About Reliant Real Estate Partners
Reliant Real Estate Partners is a full-service industrial real
estate firm offering brokerage, investment, development, and
property management services. Founded in 2013, the Reliant team has
been involved in more than 50 million square feet of commercial
real estate transactions totaling over $1.5
billion. As leaders in the metro Atlanta supply chain and logistics real estate
industry, Reliant brings over 60 years of combined knowledge and
experience to every tenant, owner, and investor they serve.
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SOURCE Manulife Investment Management