Both transactions, signed for space in a newer portion of the park, are fives-year deals with lease rates around $1 per sf per month. The 40-building, 625,000-sf (net rentable) development is owned by Yearout, Fontenette & Kemper LLC. Built in phases over the last 25 years, it is now 75% occupied.
Insignia/ESG represented both the owner and the tenant in both transactions. The firm's Director of Property Services Sue Iggulden tells GlobeSt.com there has been a sharp increase in "lookers" over the past month and a half. "Where we had little activity at the end of the year, there are now quite a few prospects," says Iggulden.
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