Wharton Industrial Announces 1 Million SF Spec Warehouse 100% Leased to Major Clothing Brand
Atlanta, GA. – (March 29, 2019) Wharton Industrial announces they have leased their 1 Million square foot development project in Atlanta, GA to PVH Corp., the company behind clothing brands including Calvin Klein and Tommy Hilfiger. The recently-completed building was developed and built by Wharton Industrial, Red Rock Developments and an affiliate of Starwood Capital Group.
PVH Corp. has signed a 20-year lease at the distribution building, which is part of an industrial real estate project along Interstate 85 just south of Atlanta called Shugart Farms. Jones Lang LaSalle provided advisory services to the owners.
PVH will invest $77.6 million into the distribution center and warehouse. The company will create 575 jobs, according to a release. In a statement Thursday, Gov. Brian Kemp’s office said the project will bring more business to the Port of Savannah.
PVH, formerly known by the brand Phillips-Van Heusen, has six divisions including Calvin Klein North America, Tommy Hilfiger North America and Heritage Brands Wholesale.
Wharton Industrial is a platform company of Wharton Equity Partners, a New York City-based real estate investment firm formed in 1987. The company has extensive experience acquiring, developing and operating all asset classes, including having recently purchased in excess of $450 million of multifamily properties primarily in the southeast US through its affiliate, Wharton Residential. Wharton Industrial currently has 3 million square feet under construction and $100 million of existing buildings in the pipeline.