Crescent Resources LLC, of Charlotte, NC, teamed up with Dallas, TX-based Cobalt Capital Partners to develop Shiloh 400 Business Center in Alpharetta, GA. The partnership started construction on Phase I of the 240,000-square-foot business park in Forsyth County. Delivery is slated for for the fall.
The 18-acre park is part of The Meadows, off Georgia 400 at the McFarland Road exit. The three-building industrial development will include an 84,704-square-foot Building I at 5770 Shiloh Road, a 72,704-square-foot Building II at 5790 Shiloh Road and an 80,704-square-foot Building III at 5940 Cabot Parkway. The buildings will feature tilt-up panels, brick and clerestory elements, truck courts and 24-foot clearance.
Wakefield Beasley & Associates is the project architect, The Conlan Co. is the general contractor and Brock Design Group is the civil engineering firm. Pat Murphy of CB Richard Ellis is leasing the project.
Cobalt Capital Partners is a private equity firm that buys, manages and develops light industrial properties in major metropolitan areas.
Crescent Resources, a partnership between Duke Energy and Morgan Stanley Real Estate, is a land management and real estate development firm. It has multiple projects under development in the Atlanta area that include: Corporate Centre at Deerfield in north Fulton County, Satellite Place in Gwinnett County and Riverside Business Park in Cobb and Douglas counties. One of its biggest projects is Phipps Tower, a 486,000-square-foot, 20-story office building at Peachtree Road and Lenox Road in Buckhead that started construction last month. Read more on CoStar's coverage of the
$175 million Phipps Tower project here.