Global Transportation Inks 64,000-SF Industrial Lease

(Read more on the industrial market.)

FOREST PARK, GA-Third party logistics company Global Transportation Services Inc. has signed a 64,215-sf lease for industrial space at 245 Southfield Parkway, Suite 100. The space is within Southfield Corporate Center, which is owned by AMB SGP-Georgia LLC.

Grubb & Ellis brokers John Crawford and Ray Dankberg represented the tenant and Charlie Fiveash, of AMB, represented the landlord. Crawford tells GlobeSt.com that Global Transportation Services recently acquired the assets of another company and selected the 245 Southfield Parkway location because the company had been operating out of Southfield Corporate Center and Global liked the location. The space will be used as distribution space, he says.

Due to its close proximity to the Hartsfield Jackson International Airport, many other third party logistics companies lease space at the site. “Most of the space in the Southfield Corporate Center is used for air freight management,” Crawford says.

Global Transportation Services also has distribution locations in Miami; New York; Columbus, OH; Minneapolis; Houston; Denver; El Paso; Salt Lake City; Los Angeles; and Seattle.

According to a Grubb & Ellis Q2 industrial market report for Atlanta, the industrial market has been strong in recent years. At the end of the quarter, the vacancy rate was 12.5% with average asking rents of $3.33 per sf for warehouse/distribution space and $7.48 per sf for R&D/flex space.

“With more than 54 million sf of big box and flex space vacant, Atlanta is presently a tenant’s market with rents holding steady and landlords offering free rent and tenant improvement allowances,” the report states. “However, it is expected that concessions will become tighter. Increased leasing activity is anticipated for the remainder of the year for industrial tenants in the 30,000-sf to 60,000-sf range.”