SUWANEE, GA-Duke Realty’s Atlanta industrial group has signed electronics retailer Best Buy Co. Inc. to a four-year extension on its 10-year, 223,000-sf warehouse and distribution center lease at Horizon Business Park here. The deal brings the 15-year-old, 422-acre, 1.5-million-sf park to 85% occupancy in a difficult real estate environment.

“The [industrial] market in metro Atlanta is better than last year, and last year was better than the year before,” Duke broker Brian Sutton tells Sutton represented Duke in the transaction. Blaine Kelley of CB Richard Ellis Inc. negotiated for Minneapolis-based Best Buy.

The estimated aggregate value of the deal is $2.7 million. The average asking base rent range is $3 to $5 per sf. Other Horizon Park tenants include ITT/Flygt, OKI, Visible Genetics and Fisher Scientific. Duke Realty’s metro area portfolio totals 15.5 million sf of office, industrial and retail product.

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