ATLANTA—The Atlanta industrial market is on the verge of a full recovery, according to T. Richard Bryant, Jr., CEO of brokerage firm Lee & Associates office here.
“The industrial market in Atlanta continues to heat up, with the sector experiencing improving fundamentals in the first quarter,” says Bryant. “Now is a great time for buyers and tenants to make deals, as the market is on the verge of a full recovery.”
The firm announced it had brokered two industrial sales valued at $7.25 million and two industrial leases totaling more than 157,000 square feet in metro Atlanta.
Rick Tumlin, CCIM, SIOR, of Lee & Associates and Tom Ellis of Atlanta South Commercial Properties represented Charlotte, NC-based Columbus Nova in its $5.5-million sale of 13-16 Overmeyer Way, a 242,000-square-foot, four-building industrial complex in Forest Park, GA. Mike Sutter of Lee & Associates represented the buyer, Sealy & Co. Sutter and Tumlin will market the property on the new owner's behalf.
Tumlin and Sutter also represented Road Tested Parts in its $1.75-million purchase of a 55,000-square-foot warehouse and office building on more than 30 acres at 774 GA Hwy 320 in Cartersville, GA, the company reports. Tom Sims of Ackerman & Co. represented the seller.
On the leasing side, Tumlin, Sutter and Tommy Hiles of Lee & Associates represented building owner Cabot Properties in the lease of 112,000 square feet to Clean Cut Fabricators/Blue Sky Exhibits of a warehouse building at 5901 Bakers Ferry Rd. in Atlanta. Kathryn Kennelly of KPK Commercial and Charles B. Holloway Jr. of Charles B. Holloway LLC represented the tenant. Tumlin and Sutter also represented Professional Aviation Associates in its lease of 45,387 square feet at 105 Southfield Parkway in Forest Park GA. PAA signed a long-term lease with extensive tenant improvements at the industrial property. Prologis owns the building, which will serve as PAA's new headquarters. Prologis' Ryan Hoyt represented the building owner in the transaction.
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