TSX/NYSE/PSE: MFC SEHK:945
ATLANTA, GA, May 16, 2017 /CNW/ - John Hancock Real
Estate and CRG are developing a 1 million square foot
state-of-the-art industrial building in the Atlanta suburb of Locust Grove. The building will be available
for occupancy in early 2018.
"Atlanta's thriving business
culture makes it a key component of our real estate acquisition and
development strategy," said Kevin
Adolphe, President & Chief Executive Officer of Manulife
Real Estate. "The prime location of this new industrial development
along with the expertise of our partner, CRG, will give tenants the
ideal platform for success."
Real estate developer CRG, on behalf of John Hancock Real
Estate, owner of the property, will create a multiple phase
business park with the flexibility to meet large industrial needs.
This is the first of a 311-acre development designed for over
4.5 million square feet of industrial buildings.
CRG Vice President and Southeast Partner
Mike Demperio said: "We see significant opportunity in
the I-75 corridor with close proximity to the Port of Savannah, Charleston, Jacksonville and all of Florida. Within the attractive Henry County industrial market, the site is
located a half mile from the I-75 and Bill Garner Parkway
interchange, just 30 miles south of Hartsfield-Jackson
International Airport."
CRG Partner Larry Chapman added, "CRG has looked for superior
sites throughout the Atlanta
industrial market and Locust Grove
delivers to today's modern industrial user on all counts. This is
one more step that CRG is taking to enhance our industrial
portfolio in the southeast market."
Once completed, the facility will feature 36' clear heights with
236 trailer spaces, 148 dock height doors and 386 parking spaces.
With all concrete paving and LED lighting, this facility will
provide best-in-class performance and efficiency.
"I am excited about this project because of its proximity to
I-75. The new road improvements provide the best access in
Henry County," said Mike Spears, Vice President of Colliers
International, who will manage leasing for the new
premises. "This multi-phase project provides us with the
ability to accommodate users who require multiple buildings."
CRG's parent company Clayco will serve as the
design-builder, and its subsidiary Forum Studio is the architect on
the project. For more information about the Locust Grove
Distribution Center, visit the CRG website.
For further information, please visit:
www.locustgroveindustrial.com.
About Manulife Real Estate and John Hancock Real
Estate
Manulife Real Estate is the global real estate arm of
Manulife, operating as John Hancock Real Estate in the U.S. and
Manulife Real Estate in all other parts of the world. Manulife Real
Estate has fully integrated in-house capabilities and 80 years of
experience as an active investor, owner, developer and asset
manager of commercial real estate. Diversified by both geography
and asset type, the portfolio consists primarily of prime office
and industrial properties, as well as select retail and
multi-family residential properties, in key metropolitan centers
throughout Canada, Asia and in the
United States. In addition to equity real estate, Manulife
Real Estate manages the space requirements and own use facilities
for Manulife and John Hancock
operations around the world. Manulife Real Estate also extends its
real estate asset management expertise to institutional investors.
As at March 31, 2017, the Manulife
Real Estate portfolio totaled more than 62 million square feet with
AUM market value of C$21.6 billion
(US$15.2 billion). Additional
information about Manulife Real Estate can be found at
http://www.manuliferealestate.com/
About Manulife
Manulife Financial Corporation is a
leading international financial services group that helps people
achieve their dreams and aspirations by putting customers' needs
first and providing the right advice and solutions. We operate as
John Hancock in the United States and Manulife
elsewhere. We provide financial advice, insurance, as well as
wealth and asset management solutions for individuals, groups and
institutions. At the end of 2016, we had approximately 35,000
employees, 70,000 agents, and thousands of distribution partners,
serving more than 22 million customers. As of March 31, 2017, we had $1
trillion (US$754 billion) in
assets under management and administration, and in the previous 12
months we made almost $26.3 billion
in payments to our customers. Our principal operations are in
Asia, Canada and the
United States where we have served customers for more than
100 years. With our global headquarters in Toronto, Canada, we trade as 'MFC' on the
Toronto, New York, and the Philippine stock exchanges
and under '945' in Hong Kong.
About CRG
CRG is a leading North American real
estate developer headquartered in St.
Louis, Missouri with offices in Chicago, Sacramento, Atlanta, Pittsburgh and Northern New Jersey. The CRG team has
developed more than 5,000 acres of land and delivered over 160
million square feet of commercial, industrial, multi-family and
institutional assets exceeding $9
billion in value. For more information visit
www.realcrg.com. Follow CRG on
Twitter @CRG_Real_Estate.
About Clayco
Clayco is a full-service, turnkey real
estate development, master planning, architecture, engineering and
construction firm that delivers clients around the world the
highest quality solutions on time, on budget, and above and beyond
expectations. With $1.691 billion in
revenue for 2016, Clayco specializes in the "art and science of
building," providing fast track, efficient solutions globally for
commercial, institutional and residential related building
projects. For more information visit www.claycorp.com.
SOURCE Manulife Financial Corporation