Business: Plymouth Industrial REIT to build 236,600-square-foot spec building in Shannon for future development.

Business: Plymouth Industrial REIT to build 236,600-square-foot spec building in Shannon for future development.

In context: A very busy two months continue for the Rome Floyd Development Authority with the latest announcement confirming a midsized “spec” building in the red-hot Shannon area (Ball Corp. and others nearby). Plymouth Industrial REIT’s Georgia properties range from 32,661 to 320,000 square feet. The development authority has been working to purchase more than 200 acres off U.S.411 east of Rome as well as the former Northwest Georgia Regional Hospital site (it comes up for discussion at Monday’s Rome City Commission meeting).

Approximate site via Google map.

Media release: Plymouth Industrial REIT will build a 236,600-square-foot industrial spec building at 6785 New Calhoun Highway in the Shannon area of Floyd County.  For months, the Rome Floyd County Development Authority has been seeking a developer to invest in a spec building to meet the needs of prospects.

“According to the Georgia Department of Economic Development, over 70% of prospects are looking for an existing building,” said Missy Kendrick, President of the Rome Floyd County Development Authority.  “We have been working on getting a spec building at the same time we were working to acquire additional property for economic development.”

“It has been a pleasure working with the Rome Floyd County Development team.  Plymouth has already made one successful investment in the County and we look forward to expanding our presence here and throughout Georgia,” said Jim Connolly, Executive Vice President of Asset Management.

Plymouth Industrial REIT currently owns and manages 179 buildings containing over 28 million square feet in 12 markets.  In Georgia, Plymouth REIT has multiple buildings in Atlanta and Savannah, and it also has properties in 10 other states.

“This says a lot about our community that a company as respected as Plymouth REIT is investing in Rome and Floyd County,” said Jimmy Byars, chairman of the development authority.

Plymouth REIT has experience investing in industrial real estate with a focus on long term investments. For nearly 50 years, REITs have mirrored the continuing growth and strength of the United States economy. Plymouth REIT is dedicated to sound investment fundamentals and seeks to uncover opportunities that others may overlook.

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