A mixed-use real estate development project in Gwinnett County is making progress.
Real estate investment and development company Foxfield and real estate investment advisor AEW Capital Management recently announced a few milestones for Sugarloaf Logistics Hub.
The companies acquired the property in 2022 with the intent to convert a six-building, 740,000-square-foot corporate office campus into a master-planned campus with over 2.2 million square feet of industrial, warehouse and logistics uses. The new development would include seven buildings ranging from 120,000 square feet to over 600,000 square feet.
The site is also expected to include between 700 and 800 residential units containing a mix of single-story apartments and townhouses, plus five retail pad sites along Sugarloaf Parkway.
Food Distributor Signs Lease
Major food distributor Souto Foods, a subsidiary of Alex Lee, has signed a lease at the development for an approximately 200,000-square foot-building with significant cold storage.
The Gwinnett County-based company specializes in high-quality products from Latin America and the Caribbean. Souto Foods plans to invest $28 million in the site and hire 70 new positions in the county, according to a news release.
“We are thrilled with the opportunity to partner with Foxfield and for Souto Foods to expand and remain in Gwinnett County,” Alex Lee Senior Vice President Kimberly George said in a news release. “Gwinnett’s multicultural community has long fueled the growth of Souto Foods and was a driver for remaining local with this expansion.”
13+ Acres Sold for Multifamily Units
In other news at Sugarloaf Logistics Hub, the investment team has sold more than 13 acres of a multifamily development parcel to Atlanta housing developer Westplan Investors. The sale will pave the way for the development of approximately 330 multifamily units, with resident amenities, at the edge of the campus along Sugarloaf Parkway and Cruse Road.
“We are thrilled to have acquired this prime development site within one of the fastest-growing geographies in the southeast,” Westplan Regional Development Partner Kenny Budd said in the announcement. “Surrounded by abundant employers, amenities, and demand drivers, this well-located opportunity aligns perfectly with our strategy of developing high-quality multifamily residences across sunbelt growth markets.”
The brokerage team was led by Scott Cullen, from JLL in Atlanta, who represented Foxfield and AEW for the marketing and sale of the multifamily development parcel. Construction is expected to commence in the second quarter of 2025.
“At Foxfield, we excel at uncovering opportunities where others might overlook them, transforming those opportunities into success stories that align with our mission of delivering outstanding real estate developments and creating great places,” said Mark Tang, head of development and construction for Foxfield. “The lease agreement with Souto Foods and the sale of over 13 acres to Westplan Investors are prime examples of our team’s dedication to enhancing economic opportunity and multifamily housing options in Gwinnett County.”
