A New York-based real estate investment and development firm is seeking to build a billion-dollar data center facility on a wooded lot just north of Cartersville, Georgia.
Thor Equities is proposing a 350K SF data center on nearly 560 acres of land off Georgia State Route 293 in Bartow County, about 60 miles north of Downtown Atlanta. The project, dubbed Kingston Technology Hub, is estimated to deliver by 2030 for $1B, according to a development of regional impact application filed with the Georgia Department of Community Affairs on Sept. 4.
Counties must submit applications for projects to the state agency for review if they are deemed to have an impact on regional infrastructure.
According to the application, Thor’s project is expected to employ 50 people full time and have a $2M impact on local tax revenues annually. Kingston Technology Hub is also expected to use 50,000 gallons of water daily and require 150 megawatts of power per day from the Municipal Electric Authority of Georgia.
Thor did not respond to a request for comment in time for publication.
“This development represents more than just a building. It represents a transformational opportunity for the local economy — bringing high-paying jobs, supporting our schools, and offering infrastructure upgrades that will benefit all residents of Kingston and Bartow County,” Thor stated on a website created to promote the project.
The project would be located within the city of Kingston. Thor noted that the project would provide at least $2M per year in local tax and fee revenue, more than twice the current city budget, and that every direct data center job would create an additional 4.5 ancillary jobs.
DEVELOPMENT
Residential developer Toll Brothers, along with a Cobb County homebuilder acquired by a Japanese residential firm, are planning a 1,700-unit master-planned mixed-use development in Cherokee County, according to a development of regional impact application.
Toll and Patrick Malloy Communities are planning market-rate and active-adult residential lots with resort-style amenities, including fitness centers, pools, pickleball courts and trails within proximity to the Etowah River, in a project called Live Etowah.
Arnest One America purchased a majority stake in Patrick Malloy last year, according to the Atlanta Business Chronicle.
The project would also include 25K SF of commercial space on more than 1,300 acres near the intersection of Georgia State Routes 372 and 369, just east of Ball Ground, according to the application. The project is slated to deliver by 2034.
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Trammell Crow Co. and a joint venture partner led by CBRE Japan delivered Buford Creek Business Center, a three-building, 686K SF speculative industrial park in Buford, about 30 miles northeast of Atlanta.
CBRE’s Todd Barton, Mark Hawks, Joanna Blaesing and Matt Higgins are marketing the properties for lease or sale. The project is located along Lanier Islands Parkway and Big Creek Road, with the first building sized at 350K SF and the other two at 168,400 SF each.
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Crow Holdings is planning a $90M distribution complex just north of Athens, according to a development of regional impact application with the Georgia Department of Community Affairs.
The firm, under an LLC, is proposing to develop two warehouses totaling just over 1M SF along Academy Church Road in Jefferson County, according to the DRI.
The project is expected to employ 475 people full time and generate $750K annually in tax revenues for the county, according to the application.
LEASES
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Regions Plaza in Midtown Atlanta
A husband-and-wife team is opening a new coworking operation in Midtown.
Priddy Spaces leased 22K SF at Regions Plaza for a Venture X-Atlanta Midtown franchise flex office location, according to a press release. The location, which will include 70 private offices and three meeting rooms, is on the third floor of the 24-story, 500K SF tower.
Colliers’ Derek Baker, Jodi Selvey and Meredith Selvey brokered the deal for Priddy.
Priddy, founded by Kevin and Giedre Priddy, runs Venture X and Office Evolution coworking brands in Florida, Texas and Georgia through the Vast Coworking network.
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Digital automotive sales conversion platform Protomiq inked an office lease at the North Terraces building in Dunwoody, with plans to move its headquarters from Chapel Hill, North Carolina.
The size of the lease was not disclosed, according to a press release. CBRE’s Kirk Adams and Katherine Lee brokered the deal for Protomiq.
SALES
An LLC tied to Link Logistics purchased 1075 Satellite Blvd., a 245K SF flex warehouse in Suwanee, from New York-based Oxford Properties Group for $39M, according to the Georgia Superior Court Clerks’ Cooperative Authority database. The property last sold in 2021 for $30.6M, according to Gwinnett County property records.
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Atlanta-based OA Development purchased Century Springs, a two-building office complex in Sandy Springs totaling 192K SF, for $20.8M from The Ardent Cos., the Atlanta Business Chronicle reported.
Newmark’s Jay O’Meara, Justin Parsonnet and Ryan Reethof brokered the sale for Ardent, which owned the property for over a decade after it fell into foreclosure in 2013, according to the ABC.
PERSONNEL
CBRE’s market leader for the Carolinas, Brett Gray, is joining CBRE’s Atlanta advisory services leadership team. The move comes as veteran executive David Lanier, senior managing director of CBRE Atlanta, plans to retire at the end of the year.
Gray will work with John Ferguson, president of CBRE Atlanta advisory services, as well as Managing Director Betts Ervin in the metro area market while keeping his managerial position for the Carolinas.
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Toro Development Co. tapped Madilyn Browning as concierge manager at its new Medley mixed-use development in Johns Creek. The $560M project is slated to open at the end of October.
Browning is tasked with overseeing Medley’s resort-level concierge program. A native of Johns Creek, Browning most recently was the general manager of fashion retailer Tory Burch at Avalon.
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