The tenant, owner Stone Mountain Industrial Park Inc. and Grubb & Ellis Co., which brokered the transaction, refused to disclose details of the deal.
But brokers familiar with the park's properties tell GlobeSt.com on condition of anonymity, the average asking rental rate is between $3.80 per sf and $3.95 per sf and that asking rates are holding because the area has one of the lowest vacancy rates in the greater Atlanta MSA.
In a separate transaction, locally based Interphase Wood Moldings Inc. leased 20,000 sf of industrial space on Homer Coin Road in a property owned by locally based D J & L, Inc. Area brokers estimate the rental rate at between $4.29 per sf and $5.41 per sf, giving the lease an aggregate value of about $500,000, area brokers tell GlobeSt.com.
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