ATLANTA- Richard Bowers & Co. has brokered two five-year industrial leases totaling 23,827 sf with an estimated aggregate rent value of $500,000.
R.E. Michel Co., a Glen Burnie, MD-based wholesale distributor of commercial heating, ventilation and air conditioning equipment, is renewing an 11,250-sf lease at a five-year-old building in suburban Douglasville. Atlanta-based DH Supply, an electrical equipment distributor, is leasing 12,577 sf at a one-year-old structure in Conyers. The tenants occupy the entire buildings.
Bucky Winfield, vice president of industrial properties at Richard Bowers & Co., represented DHS Realty Partners LLC, the lessor in the R.E. Michel transaction. Winfield also represented DH Supply in the Conyers transaction.
He declined to disclose the estimated aggregate value of the leases or the average asking gross rent range at each property. However, area industrial brokers familiar with the two suburban submarkets tell GlobeSt.com the deals were probably done for under $4 per sf. That would give the DH Supply lease an estimated value of $251,540 and the R.E. Michel lease an estimated value of $225,000, brokers tell GlobeSt.com. DH Supply is the corporate parent of DHS Realty Partners LLC.
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