The estimated hard construction cost is $9 million. The project is expected to open in early summer 2001.
The developer's existing 1.9 million sf of office and industrial at the park is 95% leased. Rental rates are $12 per sf to $13 per sf. Duke-Weeks' previous spec building hit more than 65% occupancy within a month of opening.
With the completion of the planned building, the REIT has 15 acres left in the park for development. Northmeadow is located near Ga. 400 in north Fulton County, about 25 miles north of Downtown.
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