ATLANTA-In a difficult industrial leasing period, the local office of Lincoln Property Co. has signed two tenants for a total 212,164 sf at separate metro area properties. The estimated aggregate value of the transactions is $4 million, area brokers familiar with the two submarkets tell GlobeSt.com.

Residential Construction Specialists is taking 160,440 sf at 6280 Best Friend Road in Gwinnett County for an estimated five years at an estimated aggregate rent of $3 million. Locally based Chik-fil-A has leased 51,724 sf for five years at Airport West Distribution Center at South Fulton Parkway and Buffington Road. Lincoln owns and manages both properties.

Lincoln began developing the 74%-leased Airport West Distribution Center in fall 2001 as part of the firm’s joint venture with New York-based American International Group Inc. Among the park’s tenants are Bank of America, PSI, a division of PitneyBowes,Penske Logistics and Pilot Air Freight.

“At Airport West, we’ve had a great deal of leasing success, despite a tough market,” says Julian Brown, a Lincoln senior vice president. “The South Fulton Parkway has attracted corporate America because of its excellent access to the Interstates and Hartsfield-Jackson International Airport.”

Brown and Denton Shamburger negotiated for Lincoln in both transactions. JB Bader of Bader & Associates represented RCS. The Chik-fil-A transaction was direct.

RCS relocated from the Peachtree industrial area and will use the Best Friend Road property to distribute its specialty home appliance products. Chik-fil-A previously had some temporary warehouse/distribution space at Airport West.

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
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

 

GlobeSt Net Lease Spring 2024Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information
 

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 © 2024 ALM Global, LLC. All Rights Reserved.