Issuu

MARKET REPORT A Guide to Industrial Real Estate in Northeast Georgia

Online Issue

April 2022

1385 Valentine Industrial Parkway | Jackson County ±120,000 sq. ft. for lease in Pendergrass, GA. Located in Prologis Park I-85, this freestanding industrial facilitiy has ±2,550 sq. ft. of office space, fenced truck court, ninety-four (94) parking spaces, and LED lighting with motion sensors in the office and warehouse. Property features include 30 dock high doors with pit levelers, 2 drive-in doors (12' x 14'), 28’ clear ceiling height, and 50’ x 50’ column spacing. Only ±2.5 miles to I-85 and ±11 miles to SK Innovation Battery Plant development.

Contact Drew or Floyd - #6352 Industrial Market Data....................................................2-11

INSIDE

Article .............................................................................12-17 Recent Transactions......................................................18-21 Industrial / Warehouse / Manufacturing Listings......22-26 Land............................................................................... 27-28 About Us...............................................................................29

The IPG Difference — IPG has created a team approach where each team member has a specific role in servicing and caring for each and every IPG client. Any team member can assist you with more information about any property in the Market Report. Call IPG at: 770•536•6555

Industrial Market Data

Inventory SF

282M

(+1.6%)

Prior Period 278M

I-85 Market Recap

Under Construction SF

18.8M

(+122.9%)

Prior Period 8.4M

12 Mo Net Absorption SF

9.5M

(For period changes Q1 2021 - Q1 2022 est.)

(-6.3%)

Prior Period 10.2M

Vacancy Rate

3.3%

(1.9%)

Prior Period 5.2%

Market Rent Per SF

$7.53

(+10.4%)

Prior Period $6.82

Market Sale Price Per SF

$99

(+18.7%)

Prior Period $83

Market Cap Rate

6.3%

(-0.2%)

Prior Period 6.5%

Industrial Properties Group, Inc.

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Inventory SF

122M

(+2.3%)

Prior Period 119M

I-20 Market Recap

Under Construction SF

2.8M

(+27.9%)

Prior Period 2M

12 Mo Net Absorption SF

3.8M

(+409.7%)

(For period changes Q1 2021 - Q1 2022 est.)

Prior Period 747K

Vacancy Rate

3.2%

(0.9%)

Prior Period 4.1%

Market Rent Per SF

$7.39

(+9.8%)

Prior Period $6.30

Market Sale Price Per SF

$83

(+19.9%)

Prior Period $58

Market Cap Rate

6.2%

(-0.2%)

Prior Period 6.4%

Industrial Properties Group, Inc.

Information and details contained herein have been obtained from third-party sources believed to be reliable; however, Industrial Properties Group has not independently verified its accuracy. Interested parties should perform their own due diligence regarding the accuracy of information. Third-party data source: CoStar Group, Inc.

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$6.00 $5.00 $4.00

Current Trends 12

0% -2% -4%

(I-85 & I-20 Submarkets, Industrial & Flex Space, 10 Year Model)

Search Analytics Market Rent & Asking Rent Per SF Daily Asking Rent Per SF

Asking Re Direct & S

$10.00

$7.00

Forecast

$6.60 $9.00

$9.00 $6.50

$6.40 $8.00

$8.00 $6.00

$7.00 $6.20

$5.50 $7.00

$6.00 $6.00

$5.00 $6.00

$5.00 $5.80

$4.50 $5.00

$4.00 $5.60 $3.00

$4.00 $4.00 $3.50

$5.40 Feb 21

14 Apr 21

16 18 Market Rent Jun 21 Aug 21

20 22 24 26 Asking Rent Oct 21 Dec 21 *CoStar FebGroup, 22 Inc.

$3.00

Direct Rent Per SF

Sublet Re

$7.00

$9.00

$6.50

$8.00

$6.00

$7.00

$5.50 $6.00 $5.00 $5.00

$4.50

$4.00

$4.00 $3.50

$3.00

*CoStar Group, Inc.

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Industrial Market Data

Vacancy & Market Rent Per SF Direct Vacancy Rate 16%

14%

Vacancy Rate

Vacancy

$7.00

$6.00

$5.00

$4.00

% 2%

% 21

14 13

$3.00 16 18 20 22 24 26 Vacancy Rate Market Rent/SF 14 15 16 17 18 19 20*CoStar 21 Group, Inc. 22

.00

16%

14%

Net Absorption In SF

Market Rent/SF

0.00

12% 10% 8% 6%

.00

Forecast

5M 4M 3M 2M 1M 0

.00

Net Absorption Availability Rate

1.00

.00

$9.00 $8.00

.00

$10.00

10% 10% 8%

.00

14%

12% 12%

.00

$11.00

Forecast

Market Rent/SF

(1M) 12

14 13

16 15

18 16

20 17

22 18

24 20

26 21

*CoStar Group, Inc.

770•536•6555

# 1823376

3/21/2022

# 1823376

Page 8 3/21/2022

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2% Buildings Industrial Market Data 0% 12

$4.00 14

16 18 Vacancy Rate

22 24 Market Rent/SF

$3.00

Net Absorption

1.00

0.00

.00

Net Absorption In SF

Market Rent/SF

.00

Forecast

5M 4M 3M 2M 1M

.00

(1M)

Search Analytics

*CoStar Group, Inc.

3/21/2022

# 1823376

Available SF

Page 8

Availability 16%

60M

14%

50M

12% 40M

10% 8%

30M

20M

4% 10M 0

2% 12

*CoStar Group, Inc.

Available & Vacant SF 6

60M Industrial Properties Group, Inc.

Occupanc 770•536•6555

www.ipgproperties.com Forecast

100%

30%

20%

0 3

Search Analytics

50% Probability Threshold

>60

Under Construction Deliveries

Deliveries Demolition

25M

10M

500K 8M 0 6M (500K)

Forecast

20M 8M

Demolished DeliveriesSF In SF

Deliveries Under Construction In SF SF

10M

15M 6M 10M 4M

4M (1M) 2M (1.5M) (2M) 0

(2.5M) (2M)

2M 0 0

12 12

13 14

15 16

16 18

(3.5M)

Sales Volu

$2B

Forecast

$2B $1.8B

$110

$1.6B

$100

$1.4B

$90

$1.2B

$80

$1B

$70

$800M

$60

$600M

$50

$400M

$40

$200M

$30

16 18 20 Sales Volume

22 24 Price/SF

Sales Volume

$1.8B

$120 Market Sale Price Per SF

24*CoStar Group, 26 Inc.

Sales Volume & Market Sale Price Per SF $130

(3M) (4M)

$1.2B $1B $800M

$0 *CoStar Group, Inc.

Industrial Properties Group, Inc.

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Industrial Market Data

Search Analytics

For Sale Total SF

For Sale A

35M

$100

30M

$90

25M

$80

20M

$70

15M

$60

10M

$50

$40

$30

*CoStar Group, Inc.

Top Buyers For Sale Asking Price Per SF

Top Sellers

Blackstone Inc.

Taylor & M

$100 Kohlberg Kravis Robe…

Caisse de dé

Caisse $90 de dépôt et pl… EQT AB $80 Clarion Partners

Black

Teachers Insu

$70 Sun Life Financial

Panattoni Dev

TPG Global LLC $60 Teachers Insurance a…

High Street Lo

Hillwood Deve

Cabot Properties, Inc. $50

WPT Industria

Ares Management Co… $40 21

$30

$100M 14

CBRE Investm $300M $500M Sales Volume 15 16 17 18

$700M 19 20

$900M 21 22 *CoStar Group, Inc.

Top Sellers Taylor & Mathis, Inc. 10

Caisse de dépôt et pl… Group, Inc. Industrial Properties

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Search Analytics Market Cap Rate

Market C

9.0%

50%

Forecast

8.5%

40%

8.0% 30%

7.5% 7.0%

20%

6.5% 10% 6.0% 5.5%

0% 12

<4%

*CoStar Group, Inc.

Market Cap Rate By Location Type

Market C

8.5% 8.0%

9.5%

Forecast

Key Takeaways

9.0% 8.5%

7.5%

• North Georgia remains a strong 7.0% industrial market

• Strong demand and the need for space within our market

6.5%

• Market Rent PSF & Sale Price PSF 6.0% have continued to rise

8.0% 7.5%

7.0% • Record high demand and record high Rent PSF/Sales Price PSF indicate a 6.5% healthy market for investment

5.5%

6.0%

• Vacancy Rate remains low 5.0%

12 remains 14 positive 16 • Net Absorption

Urban

• IPG's I-20 market has seen a +409% change in 12 Mo Net Absorption SF

• Need for new development and land 5.5% 20 22 24 26 within our market to meet demand Suburban

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Article

Everything on the Rise: What is the Market Telling Us When we look at the current Georgia economy and its drivers, the outlook appears overwhelmingly positive. From an economic perspective to the industrial market, many drivers point toward continued and steady growth trends. However, we can also see some deterrents on the horizon. As we look at the current factors fueling our market’s growth trends, our state appears poised to stay on track. Keep reading for a recap on some key points we felt were worth sharing.

ECONOMIC DEVELOPMENT The Georgia economy saw GDP increase 5.7% in 2021 compared to a decrease of -3.9% in 2020. We saw unemployment decline from 5.1% to 3.3% at the end of the year, marking a clear recovery from pandemic unemployment numbers. Healthy consumer spending in the private

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sector has also been a cornerstone of the growth of our economy amidst pre- and post-pandemic uncertainty. One of the strongest markets has been our own industrial market. According to the Georgia Department of Economic Development’s recent article, International Drive: Georgia Global Commerce drives FDI across the state, "new investments in the state in 2021 totaled $10.97 Billion, and 33,439 jobs were created in the state through 379 projects supported by their Global Commerce division. FDI during the same period was at $2 Billion, with 20% more jobs created compared to the previous fiscal year.” What’s more is, in a separate article, Governor Kemp noted “74% of projects were outside the metro Atlanta area, so we’re seeing projects go literally all over the state, including places where we haven’t seen projects announced in a long time.”

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Article

WHY GEORGIA?

• Access to Hartsfield-Jackson International Airport

Georgia boasts many advantages for those looking to locate or grow within the state. The GDEcD’s Deputy Commissioner for Global Commerce, Scott McMurray, noted that Georgia’s assets are highly attractive to foreign investors. A few of those assets include:

• Proximity to Ports: The Port of Savannah and the new Northeast Georgia Inland Port

To Read the Georgia Department of Economic Development Guide:

Click Here

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• Prevalence of existing FDI • Growth in the electric car market, food processing, and other industries • Diversity of existing industry and suppliers • Strong leadership dedicated to programs and partnerships with investors • Proven and continued growth through the pandemic • Strong education sector and workforce development, including Georgia’s QuickStart program, to support industries and companies in acquiring the people and skills they need

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Article

THE ELECTRIC CAR MARKET Growth in the electric car market has been a critical component of the state’s upward trajectory. The GDEcD also stated that “Georgia has broken records of investment and job growth through the pandemic” due to our state’s strong leadership. Governor Kemp has actively worked to reduce barriers to entry within the electric car market in the state. The GDEcD also worked to create the “Electric Mobility Innovation Alliance” which is a public-private partnership to focus on lowering barriers to entry and providing good public policy to help companies grow. Governor Kemp says this alliance “is not just about electric cars and vans, it’s everything. We want to be in that space and be able to meet the needs of the future supply chain… And we want to help our existing workforce in traditional manufacturing be able to transition to EVs… We want them to know we will continue to support them because they’re a Georgia-based business.” We’ve said it a lot – that the new SK Innovation Battery plant would spur growth within our markets, and we have reached the time where this growth is observable. With SK’s $2.6B 14

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investment in the state, we are seeing the Electric Car Market represent a huge percentage of new investment with suppliers and others in the EV space locating near the Jackson County plant. Just recently, Rivian, a new electric vehicle manufacturer, announced its plans for a second factory in Morgan and Walton counties along the I-20 corridor. Site plans include 13 separate buildings, totaling 20 million-square-feet, spread across 2,000 acres. Approximately 980 acres are in Walton County and 931 acres are in Morgan County. Of the 980 acres in Walton County, 786 acres are in the Social Circle City limits. The project is supported by the Joint Development Authority of Jasper, Morgan, Newton, and Walton Counties. Each of the four counties will receive a tax revenue split of a certain percentage for Stanton Springs & Stanton Springs North. The new plant is estimated to cost $5 billion, with construction expected to be completed in 2024. Rivian anticipates 7,500 jobs to be created, and the capacity to assemble 400,000 vehicles per year once the facility is fully operational.

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Another new development in the electric car market includes a partnership between a recycling plant, Ascend Elements, and SK Battery America to reuse scrap. Ascend announced plans in early March 2022 to open a 154,000 squarefoot battery recycling facility in an existing industrial building Covington. Mike O’Kronley, Ascend’s CEO, said in a recent AJC article that “its focus will be on salvaging high-value metals like cobalt, lithium, and nickel. When the plant is fully operational, it will be the largest battery recycling facility in North America, capable of processing 30,000 metric tons of material each year.” With the recent influx of businesses moving in around SK Battery, Industrial Properties Group, Inc. is excited to represent Rooker Properties with three projects in Jackson County near SK Battery. Our premier project is a 350,000-square-foot spec building at 1532 Ridgeway Church Road, across the road from the SK facility. In addition, we have two build-tosuit opportunities at Steve Reynolds Industrial Boulevard, also located just behind the SK facility. Building specs are to be determined based on tenant needs and current site plans include one 180,000-square-foot building and one 235,000-square-foot building.

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RESHORING Reshoring has also played an integral part in the state’s development in the last several years. Georgia’s resources and existing FDI have continued to attract companies to relocate and expand their operations as well as their headquarters to the state. An article from the Wall Street Journal, in partnership with the GDEcD, shared that since 2011, “2,586 companies have relocated to or expanded their capabilities in Georgia” and “while some U.S. companies that reshore are keen on the “Made in the USA” label, most are returning for reasons more pragmatic: reduced transport costs, faster time to market, lower total costs and greater product quality and control.” Many of the advantages mentioned previously reinforce the desire for companies to reshore and expand their operations here in Georgia. COMING SOON: ±350,000 Sq. Ft. Spec Building

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Article

SUPPLY-SIDE CONCERNS Across several markets, supply constraints have created huge obstacles for companies and have slowed growth at the micro and macro levels. From shortages of labor to raw materials to finished goods, it seems no market has escaped the current supply chain issues. All of this has put pressure on companies to raise pricing – creating barriers across markets, and further fueling inflation. As FDI takes place and existing businesses increase operations throughout the state, we can hope these supply issues are corrected. With those corrections, some pressures would be alleviated, and growth would continue. RISING INTEREST RATES In March 2022, the Federal Reserve approved it’s first interest rate increase since 2018, raising rates by 0.25%. With 6 more rate hikes planned throughout 2022, this will bring the total increase to 1.75% by end of year. The Federal Open Market Committee (FOMC) also plans to reduce its holdings of Treasury securities 16

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and agency mortgage-backed securities. First, we can assume that rate increases will deter buyers. Second, we will see banks becoming more stringent in their approval metrics, meaning less commercial loans being approved. If both of these are true, and buyer demand and buyer approval fall, the market could certainly see a shift. We could see inventory no longer being absorbed at current rates and, in theory, a decline in values – leading to a buyer’s market. The question lies in whether our economy is positioned to absorb both the current inflation and the impact created by increasing rates. The shift from inexpensive, easy borrowing to more restrictive and expensive money will put a strain on many businesses and buyers. Nonetheless, the outlook still remains positive, and, despite the rate hikes, our country’s interest rates would continue to be relatively low compared to the global economy.

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THE INDUSTRIAL REAL ESTATE MARKET So, how does the current growth throughout the state influence our IRE market and vice versa? What are the numbers telling us about how we should respond to all of the above? In Industrial Properties Group’s territory along the I-85 and I-20 corridors, we have seen record numbers (see Current Trends graphs). We see the vacancy rate currently estimated at 3.2% for Q1 2022, and 12-Month Net Absorption increasing by 50% from Q1 2021. We see Months on Market and Months to Lease at an all-time low while sales and rent prices have risen steadily and significantly. The data is observable in that we have realized the strong demand for industrial space within our market. But, with availability of space at all-time low, the question becomes where the space demanded will come from. As we continue to experience these current trends, and the demand from foreign investors, new development and the need for land will likely become critical to meet the needs of the current market.

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PUTTING IT ALL TOGETHER The whole is greater than the sum of its parts rings true. The Industrial Real Estate market conditions will vary based on all of these factors. For those looking to sell, inventory is still moving quickly, pricing remains high, and buyer demand is strong. For those looking to buy, there is still time to get locked into low rates with easier approval than in the days to come. For those with existing portfolios, now would be a good time to refinance if you haven’t done so already. With Market Cap Rate averaging 6.5% in 2021, now is a great time for investment or to sell your investment. Record high demand for industrial space and absorption coupled with record high rent/sales prices indicate a healthy market for investment.

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Recent Transactions

RECENT TRANSACTIONS

LAND 0 Kilcrease Road Barrow County

±102 acres - Auburn, GA

0 Dixie Road Newton County

916 Harmony Road Putnam County

±327 acres - Covington, GA

±71.55 acres - Eatonton, GA

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Recent Transactions

0 Lake Forest Court Newton County

1532 Ridgeway Church Road Jackson County

±22.3 acres - Covington, GA

±35.53 acres - Commerce, GA

Henry D Robinson Blvd (Site #21) Jackson County

0 Cornog Road Franklin County

±31 acres - Pendergrass, GA

±13.54 acres - Lavonia, GA

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Recent Transactions

RECENT TRANSACTIONS

BUILDINGS 254 Clary Connector Extension Stephens County

±19,200 sq. ft. - Eastanollee, GA

510 Dunbar Road Peach County

2850 Gainesville Hwy Banks County

±44,850 sq. ft. - Byron, GA

±191,351 sq. ft. - Alto, GA

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Recent Transactions

D LE

1120 Purina Drive Hall County

215 Coats Drive Stephens County

±90,000 sq. ft. - Gainesville, GA

±60,800 sq. ft. - Toccoa, GA

D LE

336 Henry D. Robinson Blvd Jackson County

2840 Atlanta Hwy Hall County

±74,279 sq. ft. - Pendergrass, GA

±82,529 sq. ft. - Gainesville, GA

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Buildings

Industrial / Warehouse / Manufacturing Listings

FOR LEASE

BU TO I L D -SU IT

FOR LEASE

BU TO I L D -SU IT

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Buildings

Industrial / Warehouse / Manufacturing Listings

BUILD-TO-SUIT | FOR LEASE

Steve Reynolds Industrial Pkwy Site #1 Jackson County ±180,000 sq. ft. industrial building for lease in Commerce, GA. Build-to-suit on ±16.5 acre site. Proposed features include 150 parking spaces and 135' truck court. Other building specs TBD based on tenant needs. Only ±1 mile to I-85 via Exit 147 and located adjacent to SK Innovation Battery Plant. Contact Drew or Floyd - #11012

Steve Reynolds Industrial Pkwy Site #2 Jackson County ±235,500 sq. ft. industrial building for lease in Commerce, GA. Build-to-suit on ±29 acre site. Proposed features include 165 parking spaces, 70 trailer spaces, and 185' truck court. Other building specs TBD based on tenant needs. Only ±1 mile to I-85 via Exit 147 and located adjacent to SK Innovation Battery Plant. Contact Drew or Floyd - #11012

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Buildings

NE LIS W TIN G

FOR LEASE

Presco Industrial Park West Atlanta Highway | Hall County New multi-tenant facility for lease with options up to ±100,000 sq. ft. in Presco Industrial Park West. Office is build-to-suit. Property features include 42' x 50' column spacing, 6" reinforced slab, 2 drive-in doors, 21 dock high doors, ESFR sprinkler, and 480/240 V, 3 phase power. Great location with easy access to I-985. Only ±0.6 miles to Exit 17. Contact Drew or Floyd - #10914

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Buildings

FOR SALE

NE LIS W TIN G

1228 Memorial Drive Stephens County ±45,000 sq. ft. for sale in Eastanollee, GA. Two industrial facilities for sale on a ±5.62 acre site in Stephens County, GA. Building 100 is ±30,000 sq. ft. with 18’ ceiling height, 2 dock high doors, 7 drive-in doors, a ±600 sq. ft. office area and heavy power. Building 200 is ±15,000 sq. ft. and offers 18’ ceiling height, 2 dock high doors (10’ x 10’) and 1 drive-in door (12’ x 14’). Both buildings are clear span and have ample room for outside storage and/or parking. Easy access to Hwy 17 and I-85. Great for light manufacturing or distribution.

Contact Drew or Floyd #1581 & 1582

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Buildings

NE LIS W TIN G

FOR LEASE

0 Enterprise Drive Jackson County ±10,000 sq. ft single tenant facility for lease in Pendergrass, GA. Located in North Jefferson Business Park. Office is build-to-suit. Property features include 1 dock high door, 1 drive-in door, and 20' clear ceiling height. Excellent frontage on Hwy 129 with a traffic count of 16,500 cars per day. Only ±20 miles to I-985 and ±1.5 miles to I-85 at Exit 137. Great location with access to industrial market. Contact Drew or Floyd - #10449

BU TO I L D -SU IT

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Industrial Land Listings

±32.17 acres

68 Hwy 22 West Baldwin County ±32.17 acre tract for sale in Milledgeville, GA. The property has flat topography and is served by city water and sewer. ±1,341 feet of frontage on State Hwy 22 and ±2,195 feet of frontage on Britt Waters Road. Not in city limits no zoning. Contact Gene ‐ #10536

±11.5 acres

S Holland Drive (Site #10) Jackson County ±11.5 acres available in Pendergrass, GA. Located in Walnut Fork Industrial Park. Small site offers security and privacy with excellent interstate access. Only ±1.5 miles to I-85 (Exit 137) and ±11 miles to SK Innovation Battery Plant development. Contact Drew or Floyd - #11009

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Industrial Land Listings

5573 Rafe Court

Aloha Way I-985

±6.86 acres

±7.81 acres

Aloha Way (Site #30) Hall County ±6.86 acre site available in Oakwood, GA. Located in Oakwood South Industrial Park. Commercial site with high visibility on McEver Rd. Traffic Count of 9,500 VPD. Only ±1.5 miles to I-985, Exit 14. Great option for shallow bay or flex warehouse development in growing South Hall corridor. Contact Drew or Floyd - #11010

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5573 Rafe Court (Site #16) Hall County ±7.81 acre site available in Oakwood, GA. Located in Oakwood South Industrial Park. Site provides privacy with easy interstate access. ±2 miles to I-985, Exit 14. Great option for end user.

Contact Drew or Floyd - #11011

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Industrial Properties Group specializes in providing the highest quality of service in the industrial real estate market. Founded in 1991, IPG is a diversified, full-service leader in the markets we serve. With offices located in Northeast and Middle Georgia, our firm assists clients throughout the Southeast, with a primary focus on the GA 316, I-85, I-985 and I-20 corridors.

The IPG Difference The IPG Difference represents our company's framework for providing a

Team Approach - Each client has a Sales Agent that leads the support team comprised of other sales agents, marketing and administrative personnel. IPG Market Report - We publish your listing in The IPG Market Report which is a longstanding publication that has a circulation of individuals, industrial property owners, tenants, investors and industrial brokers. Custom Marketing Solutions - The IPG Team customizes our marketing strategy around the special features of your property in an aggressive and targeted fashion. All marketing activities are analyzed and adjusted to ensure your property is sold or leased.

seamless experience for our clients and helps them understand how their property will be marketed. By combining our extensive knowledge of the local market, and our global networks, with a deep

Proprietary Database - Our proprietary database allows us to make direct personal calls and implement target marketing to potential prospects.

Society of Industrial and Office Realtors® IPG is a member firm of SIOR, the leading professional industrial and office real estate association. With more than 3,400 members in 686 cities and 38 countries, SIOR represents today’s most knowledgeable, experienced, and successful commercial real estate brokerage specialists. IPG will broadcast your property to SIOR Industrial Specialists and network through personal relationships built through SIOR membership.

understanding of our clients' needs, we have

Atlanta Commercial Board of Realtors® - Current membership of the ACBR is comprised of more than 2,200 commercial realtors and affiliates. ACBR is the fundamental backbone

proven for more than 30 years that the IPG Difference works.

backbone of the commercial real estate industry in Georgia. Our membership with ACBR allows us the opportunity to promote your property to members of ACBR via the Commercial Board Exchange Mail system.

Industrial Properties Group, Inc.

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MAILING ADDRESS: PO Box 6 Maysville, GA 30558 770.536.6555

This information has been prepared by Industrial Properties Group, Inc. for the sole express use by clients of Industrial Properties Group. The information herein was obtained from sources deemed reliable but Industrial Properties Group does not guarantee accuracy.

President 770.536.6555, Ext. 222 Mobile: 770.287.5288

Regional Sales Director 770.536.6555, Ext. 223 Mobile: 706.474.2835

Gene Baldwin, Jr.

Drew C. Addison, SIOR

fbaldwin@ipgproperties.com

gbaldwin@ipgproperties.com

daddison@ipgproperties.com

Floyd H. Baldwin, SIOR

Regional Sales Director 770.536.6555, Ext. 232 Mobile: 678.316.2409

MISSION STATEMENT To provide the highest level of service for clients and customers in the purchase, sale, leasing and development of industrial real estate. Local Knowledge • Global Networks

IPG E-Market Report | April 2022