IDI declined to disclose the value of the leases. However, area brokers familiar with the property tell GlobeSt.com on condition of anonymity rental rates for a five-year lease in both locations average $4 per sf to $4.50 per sf.
Rainbow Garden Products, Inc., a subsidiary of U.K.-based Gardman Ltd., leased 62,500 sf for an estimated $1.25 million at IDI's Northpark Building A, a 299,132-sf distribution center in Cobb County.
Jacksonville, FL-based PSS Worldwide Medical Inc. leased the remaining 39,200 sf for $784,000 in the 123,648-sf Northpark Building B.
Lisa Ward, the developer's vice president of leasing, represented IDI in both transactions. Bill Doran and Charlie Fiveash of Carter & Associates in Atlanta represented Rainbow Garden. Michael Whiteman of Tampa, FL-based Michael Whiteman Co., negotiated for PSS.
Both tenants have existing space in suburban Kennesaw, GA. The newly leased facilities represent expansions for them.
In the third transaction, Fu Hsing Americas Inc., a Taiwanese manufacturer of door locks, has leased 38,460 sf for $769,200 at a 166,000-sf building at Shawnee Ridge, one of nine at the 1.7-million-sf complex northeast of Atlanta.
Jay Mitchell of IDI Services Group represented the owner, an IDI/Cigna joint venture. David Beak of Atlanta-based NAI Brannen/Goddard negotiated for Fu Hsing.
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