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First Industrial Rings Up 448,949 SF in 30-Day Leasing Run

McDONOUGH, GA-The Chicago-based developer signs the J.M. Smucker condiments company to a 240,000-sf lease at Greenwood Industrial Park in Henry County. Public Special Commodities Inc. takes 111,435 sf at Southmeadow Business Park in South Fulton County.

By Alex Finkelstein | Updated on April 11, 2006

(To read more on the industrial market, click here.)

McDONOUGH, GA-Chicago-based First industrial Realty Trust Inc., which owns 12 million sf of industrial real estate in metro Atlanta, has rung up a total 448,949 sf in a 30-day Southeast leasing run. A total 427,049 sf was leased in metro Atlanta.

A First Industrial representative was trying to assess the estimated value of the five leases for GlobeSt.com at publication deadline. However, Atlanta area industrial brokers familiar with the developer’s area properties tell GlobeSt.com the estimated aggregate value of the five transactions was at least $5 million. The brokers based their estimate on an average effective rent of $2.50 per sf over an estimated average lease length of at least five years.

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