The 10-year lease for 73,000-sf at the 4000 Johns Creek Court building has an estimated aggregate value of $10.2 million based on a $14 per-sf rent, area brokers familiar with the deal tell GlobeSt.com on condition of anonymity.
The Illinois food and beverage firm is consolidating offices in nearby Norcross, GA and Alpharetta, GA. The 1,900-acre Technology Park is in the 7.11 million-sf Peachtree Corners submarket of North Fulton County.
The total Peachtree Corners submarket was 87.5% occupied in the first half with 892,723 sf vacant at an average rental rate of $17.02 per sf, according to the latest market survey by Atlanta-based Richard Bowers & Co. Net absorption was 43,751 sf.
However, occupancy in the 57,648-sf, class A portion of the submarket is 96.8%. The average asking rent is $19.77 per sf.
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