Although Microtek was scouting the metro Atlanta area forsuitable space, Highwoods broker John Grimsley IV sold themanufacturer on the Highwoods Property building and signed thetenant to a 10-year lease aggregately valued at $3.2 million. Thetransaction brings the occupancy at the two-year-old, 53,615-sf,single-story Deerfield III to 66%.

Rick Lackey of City Commercial Real Estate negotiated for thetenant. Average asking base rent in the GA 400 submarket is $14 to$15 per sf, full service for single-story office buildings.

The deal took 30 days to complete, from contract signing toclosing. There were no special environmental or governmentalhurdles to overcome before closing the deal, Grimsley tellsGlobeSt.com. Microtek will be relocating about 50 management andstaff employees from its Mississippi office and about 20 workersfrom its Norcross location. The company plans to complete therelocation by December.