Northeast Getting Spec 170,000-SF Hub

ATLANTA-The expanding northeast Atlanta market is getting ready to usher in a new player in November when the 170,000-sf Overlook Distribution Center opens for business. Ground-breaking is set for May. The estimated $60 million venture is being developed on spec by Commonwealth Commercial Properties of Atlanta.

Locally based Colliers Cauble & Co. is the center’s exclusive leasing agent. The brokerage is scouting for a single user or about four tenants who could each use blocks of 35,000 sf to 40,000 sf. Projected asking rents will be in the $3 per sf to $6 per sf range, area brokers familiar with the northeast industrial sector tell GlobeSt.com.

“The northeast market is still very active and we expect it to remain so into 2002,” Commonwealth Properties president Sid Johnson says in a prepared statement. Overlook will be one of the first buildings surfacing in the newer territory of the expanding northeast market.