The rise of the electric vehicle industry has been a good thing for West Georgia.
For proof, look no further than Duckyang America's lease of a newly built, 270,144-square-foot distribution center at 89 Pegasus Parkway in LaGrange, Georgia.
Duckyang is an affiliate of a Korean manufacturer and importer of automotive parts — including battery modules and related components. Its arrival comes at a time when electric vehicle and component makers have been flocking to the state, investing some $27.3 billion since 2018, according to the Georgia Department of Economic Development.
Duckyang's decision to locate in West Georgia was not only one of the largest lease transactions in the area, but it added critical momentum to the development of the surrounding Lafayette Logistics Park, sparking interest from other suppliers.
That kind of catalytic potential is why the deal earned a CoStar Impact Award as judged by the local real estate professionals who know the market.
About the project: Duckyang's distribution center is part of a new 134-acre industrial campus located near Interstate 85 called the Lafayette Logistics Park, developed by Grandview Partners, a private real estate investment management firm headquartered in Greenwich, Connecticut, which aims to serve manufacturing and supply chain companies.
What the judges said: “The full building lease to an advanced automotive manufacturing operation will multiply economically and have a larger ripple effect in the community. It also further expands the regional market for advanced manufacturing,” wrote Missy Kendrick, chief executive of the economic development organization Choose Columbus.
They made it happen: Managing Director Wesley Budd, Senior Vice President Charlie Adams and Vice President Jamie Leigh Boyd comprised a team at NAI Brannen Goddard that represented the landlord, Grandview Partners. Associate Broker Kelly Choi of KW Commercial Atlanta Partners represented the tenant.