UPS Logistics Group, a subsidiary of United Parcel Service, is leasing an entire, build-to-suit, 300,000-sf office building for 10 years at an estimated aggregate rent of $66 million in the 54-acre Opus Woods business park, 25 miles north of Downtown.
Asking average rents in the park are $22 to $23 per sf. Minneapolis-based Opus South is the developer. Construction on the Logistics building is scheduled to begin in the spring with completion by June 2002, according to a news release from Opus South.
Logistics currently has its headquarters in the Central Perimeter market, 15 miles from Downtown. Easy access to Ga. 400, room to grow and proximity to residential areas and golf course-communities have attracted companies to Alpharetta over the past five years and fueled explosive office development.
UPS Logistics will join Colonial Pipeline, WorldCom and several other companies that have moved or are planning to relocate corporate headquarters and offices from closer-in to the North Fulton market.
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