Beltmann, a residential and commercial moving services company, had one year remaining on its current lease with landlord American Realty Advisors. "We took advantage of market conditions and renewed early, securing economic savings and a generous tenant improvement allowance to update the office space," says John Crawford, senior vice president of Grubb & Ellis' industrial group in Atlanta, who worked with vice president Ray Dankberg on both renewals.
Blackwood, NJ-based Reliable Tire, a leading wholesale tire distributor, has seven regional distribution centers throughout the US. Sealy Button Gwinnett LP is its landlord at Doraville building.
Industrial vacancy throughout the Atlanta market neared 10% at the end of the first quarter, according to Cushman & Wakefield. Direct asking rents remained at $4 per square foot through the first three months of this year.
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