The single-story office/flex structure is located on 34 acres inAtlanta's Northwest submarket. Sacramento, CA-based PanattoniDevelopment Co. developed the building for Coloplast in 2005 undera sale/leaseback arrangement that included a neighboring 98,000-sfdistribution center, which Coloplast continues to lease.

The project was valued at $10 million, and Coloplast's leaseagreement for both buildings was valued at about $50 million. Thecompany broke ground a new $40-million facility in Minneapolisearlier this year.

Gannon Shepherd, a senior associate with Jones Lang LaSalle inAtlanta who was involved in the transaction, tells GlobeSt.com thatthe Northwest office submarket is relatively tight with a limitednumber of large blocks of office space available. There's a fairamount of demand for space, he says, and calls the Mohawk deal a"great economic play in an efficient building with manyupgrades."