X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

ATLANTA-The five-story, 128,233-sf Spalding Ridge office building in suburban Norcross, GA is at 90% occupancy today, thanks to a nine-year, 65,955-sf renewal by the HoneyBaked Ham Co. of Marblehead, MA.

The 45-year-old, 300-store retailer is keeping its Southeast quarters in the Spalding Triangle Office Park building owned by Washington, DC-based CarrAmerica Realty Corp. Spalding Ridge, located on a 12-acre wooded site, overlooks a lake.

Average quoted rent at Spalding Ridge is $21 per sf. The aggregate value of HoneyBaked Ham’s lease is $9.5 million. Scott Rees of CarrAmerica and Thad Ellis, the firm’s managing director/Atlanta, represented the owner. HoneyBaked Ham in-house representatives negotiated for the retailer.

The HoneyBaked Ham Co. was founded in Michigan in 1957 by Harry J. Hoenselaar. The Hoenselaar family continues to operate the company which has several national shipping and distribution locations.

According to its Web site, the company has 132 franchised units with estimated franchise startup costs of $221,000 to $289,000.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.