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ATLANTA-A third-party logistics provider, Century Warehouse Inc., has signed a 157,600-sf lease to become the first tenant for a 355,000-sf warehouse in Southmeadow Business Park in North Fulton County. Move-in is penciled for July 1.

Century Warehouse is taking down space in building A at 4131 Southmeadow Parkway West. The tenant was represented by Dave Watson, Darren Ross, Steve Morgan and Lisa Misiak, all with Grubb & Ellis Co. Locally based McDonald Development Co. had in-house broker, John Downing, leading its bargaining team for owner of record, McDonald Ventures X LLC.

Ross says Century Warehouse’s executive team had two primary reasons for selecting the warehouse, which has 32-foot clear heights. “The location offers quick access to the interstate,” Ross tells GlobeSt.com. “Also, they wanted a newer, shell building.” The multi-tenant warehouse is in Southmeadow Business Park, a 354-acre park just off Camp Creek Parkway and Welcome All Road, about six miles from Atlanta Hartsfield International Airport.

The metro’s industrial market has receded to its level of a year ago, according to CB Richard Ellis’ first-quarter report. Vacancy is 15.6% in the 446.8-million-sf inventory. In Q1, there were four industrial projects came on line, including 648,000 sf in the airport submarket. There is 7.1 million sf under construction. Details about the Century Warehouse lease were unavailable, but the metro in general had an average rent of $4.53 per sf at the Q1 close.

“Since the end of 2002, the metro industrial market has experienced remarkable success,” the CBRE research team concluded in its report. “Atlanta is bolstering its relatively new role as a blue chip industrial market with high performance like that of the past quarter and past three years.”

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