The seven-year lease has an estimated value of $9.4 million. Area industrial rents are $8.75 per sf triple net to $11.75 per sf.
The I-85 northeast corridor is a hot market for warehouse and distribution space. Demand has spurred development of industrial facilities. The Daewoo lease and strong leasing activity in the northeast metro market has motivated Seefried to begin a new 235,000-sf building in the Suwanee Creek industrial park. Occupancy is targeted for early 2001.
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