ATLANTA, Ga. – March 25, 2021 – Regions Bank on Thursday announced the company’s Real Estate Banking team is providing construction financing to Oakmont Industrial Group for the development of an industrial bulk distribution facility, Oakmont Cobb International.
Oakmont Cobb International will be a nearly 485,000 square-foot, state-of-the-art cross-dock facility in Kennesaw, northwest of Atlanta. The facility will occupy 35 acres in Cobb International Park, an established business park that is well suited for meeting the distribution needs of companies serving Cobb County, Metro Atlanta and the Southeastern United States. The project is being developed through a programmatic joint venture with Pacolet Milliken, a family-owned investment company in Greenville, S.C.
“This new development will support vital commerce and additional job creation throughout the region,” said Bruce Carlson, Senior Vice President and Income Property Finance relationship manager for Regions Real Estate Banking. “Oakmont Industrial Group and Pacolet Milliken have a forward-thinking vision for this modern facility, and Regions is proud to help bring that vision from concept to reality.”
The facility will be the first speculative industrial building of its size to be developed south of Highway 92 in the current development cycle. Oakmont Cobb International will offer a full suite of top-of-the-market design specifications including a minimum clear height of 40 feet, as well as 103 dock-high loading doors, 70-foot-deep loading bays, ample trailer storage spaces, expansive full-concrete truck courts and more.
This new development will support vital commerce and additional job creation throughout the region.
Bruce Carlson, Senior VP / Income Property Finance relationship manager, Regions Real Estate Banking
Oakmont Industrial Group is a fully integrated industrial real estate development and management company based in Atlanta. Founded in 1996, Oakmont develops modern warehouse and distribution facilities in high-demand business park environments.
In the past 25 years, the company has developed logistics projects in five states. Through Oakmont’s strategic partnership with equity provider Pacolet Milliken, Oakmont is actively pursuing new developments in Atlanta, Southern California, Dallas, Houston, San Antonio, Austin, Charlotte, Orlando and Savannah.
Oakmont Cobb International is expected to be completed by December 2021.
Regions Real Estate Banking is a team of four business groups – Real Estate Corporate Banking, Income Property Finance, Homebuilder Finance and Regions Affordable Housing – strategically assembled to meet the needs of professional real estate companies, developers and investors. Regions delivers competitive products with superior service marked by speed, certainty and creativity, leveraging the bank’s full capabilities to offer a wide range of integrated banking solutions to help real estate businesses succeed and grow.
More information about Regions Real Estate Banking can be found at www.regions.com/commercial-banking/real-estate-banking.com. Additional information on Oakmont Industrial Group can be found at www.oakmontre.com.
About Regions Financial Corporation
Regions Financial Corporation (NYSE:RF), with $147 billion in assets, is a member of the S&P 500 Index and is one of the nation’s largest full-service providers of consumer and commercial banking, wealth management, and mortgage products and services. Regions serves customers across the South, Midwest and Texas, and through its subsidiary, Regions Bank, operates more than 1,300 banking offices and 2,000 ATMs. Regions Bank is an Equal Housing Lender and Member FDIC. Additional information about Regions and its full line of products and services can be found at www.regions.com.