Developers planning up to 2 million-square-foot industrial complex off Pegasus Parkway
Published 10:35 am Wednesday, January 10, 2024
A pair of developers, Farpoint Development and Grandview Partners have purchased 134 acres off of Pegasus Parkway and Old Hutchinson Mill Road to construct an industrial park they are calling the Lafayette Logistics Park.
The site located near I-85 was purchased from Southpoint Realty Group, LLC for an undisclosed sum on Nov. 28, 2023. The industrial park will be located between the upcoming West Georgia Inland Port and the Kia manufacturing plant.
The project is being completed in two phases, the first phase is expected to begin construction in the first quarter of 2024 and be completed by the end of the year. Phase I will include four industrial facilities ranging from 187,000 to 255,000 square feet. Phase II will begin once substantial work is completed on Phase I and will provide a single 700,000-square-foot facility.
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“LaGrange is emerging as a top logistics market in the Southeast,” said Eric Helfand, founding principal at Farpoint Development, in a media release. “Lafayette Logistics Park is strategically located and will create quality jobs while supporting continued business growth in the region.”
“With many notable national and regional manufacturers anchored in Troup County, and LaGrange’s recent selection as the next major inland port site by the Georgia Port Authority, Lafayette Logistics Park is well positioned to provide much-needed industrial space for the region over the coming years,” said Trevor Oliff, director at Grandview Partners.
The industrial park is located just 6 miles from the planned West Georgia Inland Port, a rail terminal set to connect LaGrange to the Port of Savannah.
LaGrange Development Authority President Scott Malone said the primary driver for bringing in logistics centers like the Troup Logistics Center and the Pegasus Industrial facility, which have been leased by Kia or their suppliers, has been Kia’s electric vehicle expansion.
The Lafayette Logistics Park is more about the inland port, which is expected to be completed by the end of 2025, he said.
“From a historical standpoint, we have 111 manufacturing facilities in Troup County, but we’ve never focused on logistics,” Malone said, noting the new logistics facilities will help manufacturing continue to bring good jobs and investment into the county and city.