ATLANTA-In transactions that bring the company's portfolio occupancy to an all time high, Denver-based ProLogis has signed 124,000 sf in leases. The company also began construction on a new 143,000-sf facility in Buford.
Recreational vehicle supplier Moto Dealer Import LLC has signed an 87,000-sf lease at the South Royal Distribution which is located along the Interstate 85 corridor in northeast Atlanta. Moto Dealer is expanding its operations from a smaller facility nearby and will use the new space as its primary warehousing and distribution center serving customers throughout the US.
Sprinkler system component distributor Supply Network Inc., which is a division of the Viking Group, has signed a 38,000-sf lease at Piedmont Court Distribution Center, which is also located in northeast Atlanta. The company will use the space to distribute commercial sprinkler systems and related products to contractors in the Greater Atlanta area.
David Welch, first vice president and market officer for ProLogis in Atlanta, tells GlobeSt.com that, with the new leases, the 116 buildings in the company's portfolio are 98% leased. "Leasing has been strong in the northeast submarket," Welch says. "There's limited land availability and customers are growing organically."
Moto Dealer was represented in the transaction by Charlie Pate, of Newburger-Andes. Supply Network was represented by Philip Wickstrom and Chip Craighill, of Cushman & Wakefield.
With the strong leasing activity, ProLogis began construction on a 143,000-sf facility at ProLogis Park Buford, a 42-acre industrial park rising near Interstate 95 and Friendship Road in Buford. When fully built out, the park will include three facilities totaling approximately 500,000 sf.
"Given continued economic growth in the northeastern suburbs and the steady demand we are seeing for modern distribution facilities, we believe the time is right to introduce new inventory to this important submarket," Welch says.
The company has also acquired 115 acres in Jackson County and is in the predevelopment phase of ProLogis Park Interstate 85, which will contain 600,000 sf when built out, Welch says.
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