LAWRENCEVILLE, GA-IKON Office Solutions has signed a 192,500-sf lease for space at Newpoint V, a 263,000-sf industrial building under construction in Newpoint Park. Newpoint Park is owned by Raleigh, NC-based REIT Highwoods Properties.

With the IKON lease, the $11.6-million Newport V building is 73% preleased. IKON, which provides copier, printer and MFP technologies, plans to use the space as a regional distribution and fulfillment center, including service training and support activities. The building is expected to be completed in the second quarter.

Highwoods Properties vice president, investor relations Tabitha Zane tells GlobeSt.com that IKON is expected to occupy the building shortly after it is completed. "IKON is a good fit for us," she says. "They're a good, quality tenant as are the others in Newport Park.

The four existing buildings with Newport Park are the 118,800-sf Newport Place I constructed in 1998, the 131,400-sf Newport Place II constructed in 1999, the 84,106-sf Newport Place III constructed in 1998 and the 135,372-sf Newport Place IV constructed in 2001. These buildings are currently 96% occupied. The buildings have direct access to Interstate 85 at the State Road 120 exit. The buildings are adjacent to retail shopping at Discovery Mills and in close proximity to banks, restaurants and hotels at the Mall of Georgia.

"Newport Park continues to attract high quality customers and we are pleased that IKON, a long-term Highwoods customer, has made this commitment to locate its facilities here," Highwoods president and CEO Ed Fritsch says in a statement.

The company currently has $427 million in the development pipeline which is 56% preleased. Since Jan. 1, 2005 the company has begun and/or delivered $554 million of development, including 26 projects in 11 markets.