IDI officials couldn't be reached at GlobeSt.com's publication deadline to confirm the construction cost. But area construction industry estimators familiar with the airport market tell GlobeSt.com IDI's new Building F will come in at about $70 per sf. Asking rents are $2.95 per sf to $3.25 per sf, depending on tenant finish.
IDI has been on a leasing roll for most of the first half. The locally based, 12-year-old developer signed Tampa, FL-based Trans-Logistics Inc. to a three-year, 165,000-sf lease with an estimated aggregate value of $2.5 million, as GlobeSt.com reported June 22.
When Building F is completed in July, the 108-acre SouthPoint will comprise five buildings totaling 1.8 million sf of industrial. Besides Trans-Logistics, tenants are McLane Co. Inc. of Temple, TX, Hughes Supply of Orlando, Qwest of Denver and AmeriService Inc. of Dallas.
The new structure offers 130-foot truck courts and 46 trailer spaces. IDI's eastern region has five parks in Atlanta with 400 acres remaining for development. The region has developed nine million sf of industrial since January 1995, according to the company's prepared statement.
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