Master Planned Parks Under Development - Atlanta, GA

Healthy Economy Behind Majestic's Success In Atlanta

With its healthy economy and major transportation hubs, Atlanta has emerged as a core market for Majestic Realty. Over the last decade, Majestic has developed an Atlanta-area portfolio consisting of 16 buildings totaling 5.2 million sq. ft. of warehouse and distribution space-a steady pace that led Majestic to open an Atlanta office to oversee regional leasing and development efforts.

Majestic officials say the company's emphasis on this market has paid off, as evidenced by the 2.2 million sq. ft. it has developed during the past 24 months alone.

Over-and-above its existing Atlanta portfolio, Majestic also owns and controls an additional 290 acres of land capable of supporting 3.3 million sq. ft. of development. Current plans call for another 1,000,000 sq. ft. of development to be added this year.

"Clearly in 2003, we see the strategic advantages of the Atlanta market for our tenants," said Stan Conway, Majestic vice president. "Atlanta offers a strong economy, an entrepreneurial environment, healthy job and housing markets, along with access to all modes of transportation serving the Southeast U.S. and beyond. Our properties were developed with these factors in mind, giving our tenants the strategic locations they need and the high-quality amenities they want."

With projects in multiple locations near Hartsfield International Airport, Majestic's state-of-the-art buildings range in size from 58,000 to 903,000-sq. ft.

History of Success in Atlanta

Majestic began its development in Georgia in 1993 when APL Logistics-a Majestic tenant in Industry, CA-approached the company with a request to build a 448,000-sq. ft. building in Atlanta. "We found a property, constructed the facility and immediately started looking for additional opportunities because we saw the market getting stronger," Conway said.

In 1995, Majestic purchased 59 acres from Norfolk Southern to develop Majestic Norcross Center totaling 960,000-sq. ft. Tenants include General Cable Corp., Dart Transit Co., Victory Packaging, Inc., Ryder Integrated Logistics and Nippon Express USA.

Building on that success, Majestic developed the 895,000-sq. ft. Majestic Airport Center I in 1997. Tenants include Hitachi Transport Systems, which occupies 317,394-sq. ft., GeoLogistics Corporation, which occupies 219,870-sq. ft., and National Distibution Centers (NDC), which occupies 205,130-sq. ft.

In 1998, Majestic acquired land for the first of several phases of Majestic Airport Center II. Today the park is home to such household names as GE Appliances, GE Energy, COSTCO Corp., Kellogg U.S.A., Inc., Caterpillar, Inc., Genco Logistics and Costar Company of America.

At present, Majestic is developing a state-of-the-art cross-dock facility which will be built on a speculative basis totaling 650,000-sq. ft. at Majestic Airport Center II. The estimated completion date is fall 2003.

Most recently, in 1999, the company acquired 50 acres in northwest Atlanta to develop Walton Green Commerce Center. At present, the park consists of five buildings totaling 431,200-sq. ft.

Strategically located in northwest Atlanta, Walton Green Commerce Center has space available for immediate occupancy. Amenities include 24- to 26-ft. ceiling clear heights, ESFR fire sprinkler systems and ample parking, as well as energy-efficient design elements.

Factors in Majestic's Georgia Success Story

Conway said current occupancy rates at Majestic owned-and-operated buildings in Atlanta stand at an enviable 94.1 percent-something he attributes to the company's strong relationship with area brokers.

"This is definitely a factor in our overall success in the Atlanta region," he added.

The company also has leveraged its relationships with its existing tenants at properties in California, Colorado and beyond. When these tenants indicate interest in expansion or relocation to the Atlanta market, Majestic Realty steps in. Multi-location tenants with offices in Atlanta include APL Logistics, General Electric Co., Kellogg USA, Inc., General Cable Corp., and Hitachi Transport Systems.

For information about leasing opportunities at any of Majestic's Atlanta-area properties, contact Stan Conway or Todd Carter at (404) 467-5255.