Peachtree City-based commercial refrigeration and cold storage firm Cool Runnings International (CRI) will be moving its corporate headquarters to Fayetteville. The site off Ga. Highway 85 North is expected to open in late 2018, with the potential for a mixed-use development on adjacent property coming in 2020.
Above, graphic of planned headquarters building.
There is significant development on the horizon in Fayetteville’s downtown area and on the west side. Getting into the mix is CRI, with a planned 17,000 sq. ft. corporate office and a 10,000 sq. ft. warehouse, situated on 9.5 acres along Hwy. 85 North near North 85 Parkway, according to commercial real estate firm Randolph Williamson.
Peachtree City-based Randolph Williamson announced the plans on Jan. 3, noting that the sale of the parcel clears the way for a new corporate office project and mixed-use development that is expected to generate jobs and provide a boost to the local economy.
CRI Global, the development arm of parent company Cool Runnings International, Inc., purchased the 9.5-acre property from the Lester Family Limited Partnership, LLLP.
“The acquisition of this property marks an exciting new chapter not just for Cool Runnings International, but also for the residents of Fayetteville and the surrounding area,” said CRI President and CEO Bill Harms. “The city of Fayetteville’s forward-thinking, pro-business approach was a major factor in our decision to locate here, and their continued efforts to create a dynamic local economy that attracts a diverse blend of employers really meshed with our vision for this site. Randolph Williamson’s expertise in conducting these types of transactions ensured that our master timeline stayed on track, and we look forward to sharing more news on our progress in the months ahead.”
The site will house a new 17,000-square-foot office building that will serve as the corporate headquarters for CRI, a commercial and industrial refrigeration and cold storage solutions provider that contracts with grocery stores, food processing facilities and warehouse distribution centers around the globe. Construction is expected to begin in March, with the new corporate campus expected to open in the fourth quarter of 2018, according to Randolph Williamson.
CRI will also build a 10,000-square-foot warehouse next to the future office building as part of ongoing expansion efforts for its worldwide distribution network. Company officials said the headquarters will employ up to 25 people when it opens next year, with design plans allowing room to expand in the future, Randolph Williamson said.
And there could be more to the CRI story.
CRI has also secured the first right of refusal on a 15-acre tract of land directly in front of the future office site and adjacent to Highway 85. Plans call for the property to be converted into a mixed-use development that will include a variety of restaurants, boutique shops and other light retail, along with a high-end technical park containing office space. The company is in the process of separating the parcel and obtaining the necessary approvals required to begin development. The yet-to-be named mixed-use site is expected to open in mid-2020, Randolph Williamson said.
“The city of Fayetteville is on the move, and today’s announcement reflects our optimism that the economic prospects for this area are bright,” said Brent Randolph, principal of Randolph Williamson. “Randolph Williamson is pleased to partner with a vision that emphasizes delivering jobs and a high quality of life for residents who want to shop, dine and pursue entertainment options that are near their front door. We congratulate Cool Runnings International on this landmark acquisition.”
