JLL Arranges $50M Forward Sale for Holder Properties' Winder Commerce Center Industrial Development
JLL Capital Markets has arranged a $50 million forward sale commitment for Winder Commerce Center, a two-building, Class A industrial development in Winder, Georgia, the firm announced Oct. 1. The transaction pairs an institutional pension fund's purchase commitment with construction financing from United Community Bank and preferred equity from Marble Capital, providing developer Holder Properties with a defined disposition path before the project's planned 2027 delivery.
The JLL Capital Markets team was led by Managing Director Bobby Norwood and Senior Managing Director Mark Sixour, along with Associate Connor McCarthy and Associate Streeter Simmons. Stephen Bridges, Partner at OnPace Partners, will provide landlord representation services for the project.
Project Specifications and Site Details
Winder Commerce Center will sit on a 36.5-acre site in Barrow County at Patrick Mill Road at Carl Bethlehem Road. The development comprises two rear-load industrial buildings totaling 321,300 square feet — a 147,420-square-foot facility and a 173,880-square-foot facility — along with 4.8 acres of excess trailer parking and industrial outdoor storage. The implied transaction price works out to approximately $155.62 per square foot based on the $50 million commitment and total square footage.
Both buildings will feature 36-foot clear heights, concrete tilt-wall construction, 60-foot dock bay depths, 135-foot truck courts, ESFR fire suppression systems, more than 3,000 amps of power capacity and nearly 300 employee parking spaces. The site plan incorporates separate truck and passenger vehicle entrances to improve operational efficiency. The development is designed to accommodate logistics, distribution, advanced manufacturing and research-oriented users, with flexible demising capabilities for multiple tenant configurations.
SR-316 Corridor and Infrastructure Investment
The project is positioned along Georgia State Route 316, which connects metro Atlanta with Athens and the University of Georgia. State and local transportation plans call for substantial reconstruction along the corridor, including freeway-type improvements, auxiliary lanes and collector-distributor roads, with a Georgia Department of Transportation study estimating the recommended long-range program at $750 million to $850 million. Among the identifiable near-term projects is the West Winder Bypass, which includes widening Patrick Mill Road to a four-lane divided highway, a full-diamond interchange at SR 316 and connector roads to SR 8 and Bankhead Highway, with a target completion of 2027.
The property also offers access to Interstate 85 to the north and south and connectivity to major employment centers across Gwinnett, Barrow, Oconee and Athens-Clarke counties. Nearby economic catalysts include The Rowen innovation district, a planned research and knowledge community expected to support job creation and economic activity across Northeast Georgia.
"The forward commitment we've arranged for Winder Commerce Center reflects the strength of this opportunity and the quality of the Holder platform," Norwood said. "The exceptional demographics, highly skilled labor pool and diverse tenant demand in this area, combined with transformative infrastructure improvements along SR-316, position the project for strong performance."
Holder Properties' Expanding Atlanta Industrial Platform
Winder Commerce Center marks Holder Properties' third industrial joint venture in the Atlanta market within 18 months, following Coal Mountain Industrial Park in Cumming and Dogwood Logistics Center in Conyers. The Atlanta-headquartered developer, founded in 1980, has developed or acquired more than 110 projects across 17 states, totaling more than 15 million square feet and total capitalization in excess of $5 billion.
"Winder Commerce Center reflects the type of industrial opportunity we continue to pursue — well-located sites in growing markets, supported by strong infrastructure and designed with the flexibility to serve a broad range of tenants," said Will Menkes, President and Managing Partner of Holder Properties. "This transaction was made possible through close collaboration with JLL. Their insight, experience and shared commitment to the project helped establish a strong foundation for its development and long-term performance."
The project draws from a labor pool supported by manufacturing, logistics, life sciences, higher education, research and technology employment across the region. The more than 3,000 amps of power capacity and dedicated outdoor storage and trailer parking components are designed to broaden the project's tenant pool beyond conventional warehouse users to include equipment-intensive manufacturing and staging operations.
Atlanta Industrial Market Context
The transaction comes as the broader Atlanta industrial market absorbs a period of elevated new supply. Atlanta deliveries reached 5.9 million square feet in the second quarter of 2026, modestly exceeding absorption and pushing vacancy up to approximately 8.5%. Asking rents reached a record $8.00 per square foot, up 11.1% year over year. Approximately 23.1 million square feet remained under construction across the market, equal to about 2.7% of existing inventory.
Within that environment, the forward sale structure provides Holder Properties with an institutional exit commitment before the project's completion, reducing exposure to future changes in leasing conditions. The pension fund's commitment indicates the location and planned specifications met the buyer's underwriting requirements. Marble Capital, which manages $3.3 billion in assets under management and is headquartered in Houston, provided the preferred equity component of the capital stack. United Community Bank, a top-100 U.S. financial institution with $29.1 billion in assets as of June 30, 2026, provided the construction loan.
Winder Commerce Center is expected to deliver in 2027, coinciding with the planned completion of nearby SR-316 corridor infrastructure improvements that are expected to enhance the site's logistics connectivity to both the Atlanta metropolitan area and the Athens market.