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10 July 2014

$110 Million Industrial Distribution Park Coming to Henry County

MetLife, Inc., announced today that it will develop a new large-scale industrial distribution park on 183 acres near Atlanta with Panattoni Development Company, a privately held, national developer based in Newport Beach, California.

The Lambert Farms Distribution Center will offer up to 3 million square feet of quality distribution space and may accommodate up to two 1.5 million square foot facilities.

MetLife will be the majority partner and Panattoni will be the managing member.

Lambert Farms Distribution Center will be built on King Mill Road in Henry County, 15 miles south of the Hartsfield-Jackson International Airport and 25 miles from Atlanta. The Class “A” development will feature LEED Certified buildings, clear heights of 36 feet and truck court depths of up to 240 feet, which will attract a wide variety of corporate tenants seeking quality distribution and warehouse space.

The construction of the park will take about three years and is expected to create about 1,200 full-time construction jobs. The total development costs will run about $110 million.

“The Lambert Farms development in the Atlanta area shows that MetLife is further diversifying its real estate equity holdings by adding a high quality industrial asset to our portfolio,” said Robert Merck, senior managing director and global head of real estate for MetLife. “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.”

Merck added that, in addition to the Lambert Farms project in Atlanta, the companies plan another project in the Northeast Atlanta sub-market.

“MetLife and Panattoni intend to develop in other major industrial markets throughout the United States as economic conditions permit,” Merck said.