Rodney Davidson, first vice president and market officer forProLogis in Atlanta, says the New Manchester lease is theDenver-based developer's first assignment with JVC. "The company'sbrands are recognized worldwide, and we hope to leverage our globalplatform to serve their future distribution space needs," Davidsonstated in a release issued early Tuesday morning. He was notavailable for further comment later.

|

JVC of America, a subsidiary of Victor Co. of Japan Ltd., is aleading developer of audio and video products. In addition to itsbroad range of consumer electronics, its media products includecompact discs, digital video discs and videotape.

|

New Manchester is a freestanding distribution facility onAtlanta's west side, near the suburb of Douglasville, withconvenient access to I-20 and the city's Interstate 285 perimeter.ProLogis expects the location to enhance JVC's distribution networkwithin the Southeast, Davidson said.

|

ProLogis is the largest industrial landlord in the Atlantametropolitan area, with approximately 19 million sf of distributionspace in 122 facilities either owned, managed or in development.Major tenants in the area include Home Depot Inc., LG ElectronicsInc., Petco Animal Supplies Inc., APL Logistics Ltd. and Subaru ofAmerica Inc.

|

The JVC lease should provide a substantial boost to Atlanta'sindustrial space market, which had 11.4% vacancy through the firstquarter, according to CB Richard Ellis Inc. The vacancy rate fordistribution space in the market was 13.6% in that time frame.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications
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.