The transaction, which is also said to be the largest industrialdeal in the Atlanta metropolitan area so far this year, wascompleted in spite of ever-tightening capital markets, says MartyArnold, one of four brokers with Colliers Spectrum Cauble inAtlanta representing First Industrial in the sale. Thebuild-to-suit warehouse at First Park Terminus West was built forExel Logistics, which signed on as a tenant late last year.


"Credit of the tenants is the number-one issue now," Arnoldtells He notes that Exel, which handles commercial andresidential moving services, is considered a "top shelf" tenantfrom a credit standpoint.


CenterPoint owns one other industrial property in the Atlantamarket, a container yard in suburban Austell occupied by MOLLogistics Inc. It also owns a 250-acre distribution park inSavannah, called CenterPoint Intermodal Center.


First Industrial remains one of Atlanta's largest industriallandlords, with 2.2 million-sf Terminus West park among its largestlocal properties. In July, the REIT signed ConMed Corp. toa 157,200-sf lease at Terminus West.

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