Prologis and Broadstone Net Lease will develop a $78.2 million build-to-suit industrial project encompassing 422,000 square feet in Forsyth, Ga. Slated for delivery in the summer of 2026, the facility is set to be home to Fiat Chrysler Automobile for the next 15 years.
The project marks a new partnership between the two companies. Prologis focuses on developing industrial projects in high-barrier, high growth markets, complementing Broadstone’s investment thesis.
Located roughly 62 miles southeast of downtown Atlanta, the construction site is close to Interstate 75 and U.S. Route 41.
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During the first quarter, Prologis’ industrial investment volume in new projects clocked in at $646 million, with 78 percent of them constructed on a build-to-suit basis. In the same interval, the company stabilized projects worth $925 million, with 64.5 percent being custom-built.
With this new Georgia development, Broadstone’s industrial pipeline will grow to 1.9 million square feet. In December, the company began working on another industrial project in Bremen, Ga., set to encompass 1.2 million square feet. Stellantis agreed to occupy the space. The automotive company just opened another industrial location in East Fishkill, N.Y., about 60 miles north of New York City. A joint venture between Bluewater Property Group and Affinius Capital owns the 534,000-square-foot distribution center.
