DULUTH, GA-First Industrial Realty Trust of Chicago has brought its one-million-sf warehouse and distribution facility at 3312 North Berkeley Lake Rd. here to 92% occupancy with the signing of Plymouth, MI-based Broder Brothers to an estimated seven-year, $5-million lease.

First Industrial declined to disclose lease terms but confirms for GlobeSt.com the average asking rent at the 30-year-old, single-story property is $2.75 per sf, net of expenses. Leases at the property range from three to seven years. First Industrial has owned the asset for 10 years.

"In late 2004, First Industrial embarked on a comprehensive repositioning strategy for this asset," says Tommy Hiles, director of lease for First Industrial in Atlanta. "As several long-term leases ended, the vacancy created an opportunity to revitalize this property and ultimately increased the rental rates."

CB Richard Ellis Inc. brokers Greg Haynes, Todd Barton and Brent Weitnauer negotiated for First Industrial. Brad Pope and Jay Young of Hailey Realty represented Broder Brothers.

Barton says "the I-85 and Peachtree industrial corridor continue to offer one of the Southeast's best alternatives for logistics and distribution." He adds, "For Broder Brothers, this location offers great access to metro Atlanta, as well as customers beyond the I-285 perimeter and metro Atlanta."