PVH Corp. Signs Lease at Red Rock Developments’ Shugart Farms
Atlanta, GA (March 28, 2019) – PVH Corp., one of the largest global apparel companies, has signed a 20-year lease on a distribution facility in Shugart Farms, a project developed by Red Rock Developments and Shugart Farms in partnership with Wharton Industrial, a division of New York-based Wharton Equity Partners, and an affiliate of Starwood Capital Group. Bill Hare of Burke Holdings provided advisory services to Red Rock and Shugart Farms.
PVH Corp. manages a diversified portfolio of brands — including CALVIN KLEIN, TOMMY HILFIGER, Van Heusen, IZOD, ARROW, Speedo*, Warner’s, Olga, Geoffrey Beene and True&Co., as well as numerous other owned and licensed brands — and markets them globally. By the end of the year, PVH will lease nearly 1 million square feet and will create approximately 575 jobs once fully operational. The lease was secured by JLL’s Supply Chain and Logistics Real Estate Solutions team.
Located along I-85 South, nearly adjacent to the CSX Fairburn Intermodal terminal and proximate to I-285 and Hartsfield-Jackson Atlanta International Airport, PVH’s new facility at Shugart Farms allows easy access to resources needed for future growth. The Atlanta South Metro site is also only 250 miles from the Port of Savannah, a key factor in the selection of the facility.
“When we began development on this spec building, we knew we had the key ingredients to meet the needs of a modern bulk tenant,” said John Barker, Jr., SIOR, president and chief development officer of Red Rock Developments. “Shugart Farms is a strategic, ‘close-in’ location next to CSX Fairburn Intermodal, with a site plan that offers abundant flexibility for auto and trailer parking. Additionally, the labor profile of the immediate area is among the best in the state of Georgia. We’re thrilled to have PVH join the high-profile tenants already operating from the site.”
Being developed in phases by Red Rock Developments, Shugart Farms is currently in the midst of Phase II. Phase I included 2 million square feet of distribution space, which is currently occupied by Smucker’s and Duracell. Phase II includes the PVH deal, as well as Red Rock’s next speculative bulk building, which will begin construction this year. Upon completion, Shugart Farms will entail industrial, office and retail uses, providing an employee-friendly and amenity-rich environment.
“Red Rock Developments has created a perfect environment for bulk distribution users to thrive at Shugart Farms,” said Brad Pope, senior vice president at JLL who, along with partner Gilbert Valdez, represented Red Rock in the transaction. “Large, brand-name users are attracted to this area because of its accessibility and convenience, and PVH joining the Shugart Farms tenant list in the early stages of development was win for all parties involved, especially the community of Palmetto.”
“We’re excited to see our family’s land being utilized to provide so many jobs and benefit our community,” said Mark Shugart.
About Red Rock Developments
Red Rock Developments is a national commercial developer with active developments across the Southeast. The company focuses on single-tenant development for office and industrial along with speculative industrial buildings and industrial parks.
About Starwood Capital Group
Starwood Capital Group is a private investment firm with a core focus on global real estate, energy infrastructure and oil & gas. The Firm and its affiliates maintain 13 offices in five countries around the world, and currently have approximately 4,000 employees. Since its inception in 1991, Starwood Capital Group has raised $45 billion of equity capital, and currently has in excess of $60 billion of assets under management. The Firm has invested in virtually every category of real estate on a global basis, opportunistically shifting asset classes, geographies and positions in the capital stack as it perceives risk/reward dynamics to be evolving. Over the past 27 years, Starwood Capital Group and its affiliates have successfully executed an investment strategy that involves building enterprises in both the private and public markets. Additional information can be found at starwoodcapital.com.
About PVH Corp.
PVH is one of the most admired fashion and lifestyle companies in the world. We operate market powerful brands to drive fashion forward – for good. Our brand portfolio includes the iconic CALVIN KLEIN, TOMMY HILFIGER, Van Heusen, IZOD, ARROW, Speedo*, Warner’s, Olga and Geoffrey Beene brands, as well as the digital-centric True & Co. intimates brand. We market a variety of goods under these and other nationally and internationally known owned and licensed brands. PVH has over 38,000 associates operating in over 40 countries and nearly $9.7 billion in annual revenues. That’s the Power of Us. That’s the Power of PVH.
*The Speedo brand is licensed for North America and the Caribbean in perpetuity from Speedo International Limited.
For more information, visit https://www.pvh.com/.
About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of over 90,000 as of December 31, 2018. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com
Red Rock Developments Media Contact:
Contact: Leah Bailey
Phone: 980-288-6222
Email: lbailey@redrockdevelopments.com
JLL Media Contact:
Contact: Caroline Moore
Phone: 843-360-9851
Email: cmoore@thewilbertgroup.com