SHIFT will open its first location in Atlanta on Nov. 19, throughout the industrial asset at 575 Wharton Drive SW within the South Fulton neighborhood.
The co-warehousing supplier goals to fulfill rising native demand for versatile and collaborative workspaces. SHIFT South Fulton will provide greater than 100,000 sq. toes in complete, with numerous warehousing choices for entrepreneurial people and companies of all sizes.
SHIFT South Fulton has 67 rentable warehouse models that vary from 300 to five,000 sq. toes and can be utilized for storage or workspaces. It additionally has 13 workplace areas. Membership facilities embody entry to assembly rooms, loading docks, safety companies, 24/7 entry, together with mail and package deal dealing with.
Pattillo Industrial Actual Property owns the commercial constructing, in line with CommercialEdge information. The property got here on-line in 1978 and underwent a full renovation in 2013. Pattillo acquired it in 2018 for $4.2 million.
SHIFT South Fulton is inside 10 miles of downtown Atlanta. Main close by thoroughfares embody U.S. routes 70 and 78, in addition to interstates 20 and 285. Hartsfield-Jackson Atlanta Worldwide Airport is lower than 20 miles southeast.
Co-warehousing grows amid Atlanta’s rising industrial emptiness
Co-warehousing options are a rising area of interest throughout the industrial sector, because the variety of small companies and customers with short-term wants is quickly rising. Giant industrial suppliers and traders are opening their very own co-warehousing manufacturers as effectively to fulfill this demand—reminiscent of Capstone Equities’ Portal Warehousing or The Rosenblum Cos.’ Launchbox Versatile Warehouse Suites, which opened its first location earlier this yr in Latham, N.Y.
Atlanta’s industrial tenants have begun looking for smaller areas, mirroring a development that’s ongoing all through the whole Southeast, a current industrial report from Avison Younger reveals. Greater than 9.4 million sq. toes of commercial area was leased within the third quarter, 54 p.c of which concerned offers smaller than 50,000 sq. toes.
The market’s emptiness grew to 9 p.c within the third quarter this yr, however a cooldown in growth is projected to enhance this price within the coming months, the identical supply reveals. New building begins have been down greater than 80 p.c since 2021, which was the height of exercise lately.
