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Morgan Stanley, Lincoln Land Large Tenant at Atlanta Distribution Center

Future Forward Co. Takes Down All 362,880 SF at Flat Shoals 85
February 7, 2018
A shipping company with major operations in Atlanta and Los Angeles has leased an entire new spec industrial building in Fulton County.

Future Forwarding Co. leased the 362,880-square-foot Flat Shoals 85 Distribution Center at 6180 Buffington Rd. at the Flat Shoals/I-85 interchange. The company plans this month to take occupancy of the building, completed in December 2017.

Lincoln Property Co. Southeast developed the industrial building in concert with Morgan Stanley's Prime Property Fund. The property technically is owned by the Development Authority of Fulton County, which issued $19.25 million in revenue bonds - at the request of Morgan Stanley and Lincoln - to help finance the building's development.

"Situated in one of Atlanta's most-active industrial submarkets, Flat Shoals 85 presents a tremendous opportunity to any company looking to capitalize on the rise of e-commerce and the resulting surge in demand for industrial space and supply-chain innovations," Lincoln Vice President Denton Shamburger said. "As Future Forwarding's e-commerce fulfillment division continues to grow, Flat Shoals 85's location and features will allow them to continue expanding their business to serve each of their clients with speed and efficiency."

Future Forwarding provides shipping services to importers and manufacturers. The services include international import and export freight forwarding, domestic truckload shipping and e-commerce fulfillment.

Lincoln and Morgan Stanley, through Seyfarth Shaw LLP attorneys Dan McRae and two colleagues, requested that the Development Authority issue the revenue bonds in late 2016. Because Flat Shoals 85 would be an infill industrial project on land rezoned from a residential classification, development costs would be higher than for a typical distribution center.

"The project site is not part of an existing industrial park, and thus is lacking certain infrastructure," the attorneys explained, according to the minutes of a Development Authority meeting.

The development would benefit Fulton County taxpayers, they said, because the new distribution center would generate about $100,000 in annual property taxes, more than 150 percent of what the property generated before being developed. The long-term lease with Future Forwarding will help guarantee that the revenue bonds are repaid.

Tommy Hughes of Hughes Commercial Real Estate represented Future Forwarding in the lease negotiations.

Tony Wilbert, Atlanta Market Reporter  CoStar Group   
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