Insurance giant MetLife and a California real estate company plan to develop a massive distribution complex in Henry County, a project that indicates confidence in the growth of the state’s logistics industry.
New York-based MetLife and its partner, Panattoni Development Co., said Wednesday they plan to develop a 183-acre site about 20 miles south of Hartsfield-Jackson International Airport.
The $110 million development, to be called Lambert Farms Distribution Center, is the latest in a string of high-profile economic development projects to be announced for the region’s Southside, including a Kroger distribution center at Fort Gillem and the new North American headquarters of Porsche at the former Ford plant.
The developers do not yet have tenants for the project. They are developing the site in hopes of attracting a major manufacturer or distribution facilities. They plan two building totaling 3 million square feet, or the size of two large shopping malls.
“Nationally, we think the long-term growth factors for industrial markets in core cities are very positive, and we are excited to have an experienced partner with national reach in Panattoni Development,” Robert Merck, MetLife’s senior managing director and global head of real estate, said in a news release.
The companies plan eight new industrial facilities in four states, according to the release.
Read more about this project later Wednesday on our subscriber website, www.myajc.com, or in the Thursday print edition of The Atlanta Journal-Constitution.