Duke and the tenant couldn't be reached to learn the aggregate value of the lease. But second-quarter research by Atlanta-based Richard Bowers & Co. shows the 84,965-sf, class A segment of the Interstate 75/Marietta/Johnson Ferry submarket having an occupancy of 94.2% and an average asking rent of $22.03 per sf. That would place the aggregate value of the Solutia lease at about $2 million.
Solutia is leasing at 3391 Town Point Parkway in the Northwest/I-75 corridor. Duke developed Solutia's six-story, 260,000-sf headquarters building in St. Louis in 1999.
"Multiple market relationships are continuing to drive new business," Kerry Armstrong, senior vice president, Duke Realty, Atlanta, says in a prepared statement.
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