X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

ATLANTA-Colliers Cauble & Co. vice president Scott Horowitz is having a good production month. The locally based broker completed two industrial leasing transactions totaling 73,064 sf valued at an estimated $1.9 million, and handled the $2.8-million sale of a 95,000-sf manufacturing plant in Suwanee, GA.

In a 51,000-sf, seven-year lease, Horowitz represented Atlanta Dental Co. in its expansion and relocation to ProLogis’ 1650 Satellite Rd. property in Gwinnett County. That distribution center deal has an estimated aggregate value of $1.4 million, based on an average gross rent of $4 per sf, area brokers familiar with the submarket tell GlobeSt.com.

In suburban Norcross, GA, Horowitz negotiated for Spec-line Co. in its 22,064-sf renewal at the Northwoods business park. The five-year lease has an estimated aggregate value of $441,280 sf, area brokers estimate. The deal was done at this time “to take advantage of favorable market conditions,” Horowitz says. Northwoods owner Bob Mobley represented his property in the transaction.

Horowitz and colleague Henry Sawyer teamed to represent Pak-Lite Co. in Suwanee, GA where their client purchased a 95,000-sf manufacturing facility at 550 Old Peachtree Rd. for $2.8 million or $28.95 per sf. Gordon Benedict of Colliers Properties, negotiated for the seller, Prudential Life Insurance Co.

In a separate transaction, Colliers Cauble’s Jeff Kelley and Kathleen Burke negotiated for RMC Industries Inc. in the 26,000-sf relocation of its North American headquarters to One Glenlake in Atlanta’s Central Perimeter submarket. That estimated five-year lease has an estimated aggregate value of $2.9 million, office brokers in the Sandy Springs submarket tell GlobeSt.com.

Wells Real Estate Funds II purchased One Glenlake last week from locally based Pope & Land Enterprises Inc. for an estimated $82 million, as GlobeSt.com previously reported. The estimated occupancy of the one-year-old structure is 72%, area brokers tell GlobeSt.com. RMC Industries, a subsidiary of London-based RMC Group PLC, relocated from One Decatur Town Center in suburban Decatur, GA.

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.