Locally based Acuity Brands Inc. is leasing the entire 408,600-sf property for 15 years at an estimated aggregate rent of $24.5 million ($4 per sf). Panattoni representatives declined to give rent figures but area brokers tell GlobeSt.com average quoted bulk warehouse rents in the I-20 West submarket are $3 per sf to $5 per sf.
Acuity, a light fixtures and chemical products manufacturer, will be relocating from the Chattahoochee Industrial submarket. Sean Boswell of Colliers Cauble & Co., Atlanta and St. Louis broker Dean Pidgeon negotiated for Acuity. Mike Demperio was the inhouse representative for Panattoni.
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