Paul Severn and Todd Shutley of SunTrust Robinson Humphrey represented Heidelberg. Todd White and Jeff Ledyard of Macfarlan, and Steve Brookshire of Atlantic Financial Group, negotiated for Macfarlan.

Heidelberg is leasing the asset for 23 years at an undisclosed aggregate rent. However, area industrial brokers familiar with the property, tell GlobeSt.com the estimated value of the leaseback deal is at least $73 million, based on an average effective annual rent of $18 per sf. Using CB Richard Ellis Inc.'s yearend 2002 statistics, Macfarlan officials say the average asking rent in Atlanta's northwest office market is $19.76 per sf.

The $17.2 million acquisition price and the estimated $73 million leaseback figure gives the deal an estimated total value of $90.2 million.