The estimated aggregate value of the lease is $4 million, based on average area asking rents of $19 per sf to $21 per sf.
Schaumburg, ILL-based Motorola, already a Duke-Weeks tenant at the Park Creek business park, is relocating one of its divisions to Hunt Creek for expansion purposes. The building's other tenant, KMC Telecom, is leasing almost 52,000 sf. Between the two companies, the office building is 90% leased.
Hillside I at Huntcrest, completed in July of last year, is fully leased. Construction has started on a third, 133,000 sf building on a 9.5-acre site on North Brown Road that has frontage along I-85. That building is due to be completed next January.
Huntcrest, in Gwinnett County, is planned for 4.6 million sf of class A office, four hotels, 230,000 sf of retail and 120 single-family homes. It is owned by Hodges whose portfolio comprises 12 million sf of office and industrial buildings and 1,600 acres of land.
Andy Sexson and Jim Medbery of the Binswanger Group represented Motorola. Bob Tardy, vice president/office leasing for Duke-Weeks negotiated for Duke-Weeks and Hodges.
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