IDI 's Crossroads' Building 100% Leased

By Hortense Leon

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141 Knowlton Way

ATLANTA- IDI, a full-service industrial real estate company, recently signed two leases in the Savannah market totaling 75,040 square  feet. The two leases—one for  43,800 square feet, and the second for 31,240 square feet-- bring 141 Knowlton Way in IDI’s Crossroads Business Park to 100% occupancy. The Gulfstream Aerospace Corp.  occupies the remaining 122,890 square feet in the building.

The Parrott Group’s distribution arm, Velocity Services South, LLC, the warehouse and distribution service provider for three Ashley Furniture HomeStores located in South Carolina and Georgia, signed the 43,800 square foot lease at  141 Knowlton Way. The Parrott Group is scheduled to open its fourth Ashley Furniture HomeStore in Savannah in September 2010 and will use the space for storage and distribution of home furniture and accessories sold at their retail locations.

Store Supply Warehouse, LLC, a wholesaler of store fixtures and supplies to small, independent retailers, signed a 31,240-square-foot-lease, also in Knowlton Way. The space will serve as the company’s new East Coast distribution center and will allow for ground transportation delivery to the majority of the company’s customer base within a two-day time-frame.

Crossroads Business Park has two buildings for a total of 429,310 square feet. The 155 Knowlton Way building has 241,380 square feet and 141 Knowlton Way has 187,930 square feet. The 13-year-old park has four tenants. Currently, less than 10% of its square footage is office and retail space. The asking rental rates and length of the leases at Crossroads Business Park were not disclosed.

Crossroads Business Center is five miles from Savannah’s Garden City Terminal container port and it is 3.74 miles from the Savannah/Hilton Head International Airport. It is also close to I-95 and I-16.

Categories: Southeast, Industrial, Leasing, Atlanta