Exel Signs 463,690-SF Lease for Estimated $13M

ATLANTA-Southpark, a 14-year-old, four-building, 1.2-million-sf M.D. Hodges Enterprise Inc.’s business center on the city’s south side, is at 90% occupancy today after Berkshire, England-based Exel Inc. signed a 10-year and a five-year lease for a total 463,690 sf at an estimated aggregate rent of $13 million.

M.D. Hodges principals couldn’t be reached at GlobeSt.com’s publication deadline. But area industrial brokers familiar with the Fayetteville Road-Interstate 85 submarket tell GlobeSt.com on condition of anonymity the asking average rent is $4 per sf for comparable space.

Exel is taking 289,106 sf at 4800 Coates Drive for five years and 174,584 sf at 5010-B Terminus Drive for 10 years. Southpark is located at 505 Fayetteville Road near I-85.