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Ashley Furniture Leasing 93,379 SF for Estimated $8.4M

ATLANTA-The Arcadia, WI-based manufacturer is taking 53,159 sf at Southlake Pavilion Shopping Center in Morrow, GA and 40,220 sf at Venture Pointe Shopping Center in Duluth, GA. Both are 10-year deals.

By Stacey Corso | Updated on March 12, 2002

ATLANTA-Arcadia, WI-based Ashley Furniture Industries Inc. has signed 10-year lease agreements for 93,379 sf of second-generation space in Morrow, GA and Duluth, GA. The estimated aggregate value of the leases is $8.4 million.

In Southlake Pavilion Shopping Center at Morrow, the retailer will occupy 53,159 sf. Chuck Evans, vice president of Staubach Retail Services’ Atlanta office, tells GlobeSt.com the asking rent is about $9.50 per sf and occupancy at the time the deal closed was 98%. Evans and Staubach managing principal Mike Neal represented the tenant in both deals.

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