Duke and the tenant couldn't be reached to learn the aggregate value of the lease. But second-quarter research by Atlanta-based Richard Bowers & Co. shows the 84,965-sf, class A segment of the Interstate 75/Marietta/Johnson Ferry submarket having an occupancy of 94.2% and an average asking rent of $22.03 per sf. That would place the aggregate value of the Solutia lease at about $2 million.

Solutia is leasing at 3391 Town Point Parkway in the Northwest/I-75 corridor. Duke developed Solutia's six-story, 260,000-sf headquarters building in St. Louis in 1999.

"Multiple market relationships are continuing to drive new business," Kerry Armstrong, senior vice president, Duke Realty, Atlanta, says in a prepared statement.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.