(Read more on the industrial market.)
ATLANTA-Two leases totaling 535,000 sf have been signed at Airport Center I and Airport Center II. Both properties are owned by City of Industry, CA-based Majestic Realty Co.
Network Global Logistics has signed a 205,000-sf lease for space within the 425,000-sf Building 2 of Airport Center I located at 2500 B Sullivan Rd. in College Park. Ken Parker, of NAI Brannen Goddard, negotiated on behalf of NGL.
American Building Supply will occupy 330,000 sf within Building 6 at Airport Center II located at 4475 S. Fulton Parkway in Union City. David Nixon and Chad Burd, of CB Richard Ellis, represented ABS.
Majestic vice president Todd Carter represented the landlord. Both companies will move into the space in about two weeks.
A provider of supply chain, logistics and transportation services, NGL operates eight distribution centers throughout North American with a total of three million sf. The company also recently signed a lease for space within the Majestic Commercenter park in Aurora, CO.
ABS is a manufacturer of the Millennium Collection of interior residential and commercial doors. The company will use the new space–its first east of the Mississippi–as a manufacturing and distribution center for the Sacramento-based company's east coast operations.
Carter tells GlobeSt.com that, with the NGL lease, Airport Center I will be 100% occupied. Airport Center I is a two-building, 845,000-sf complex located one mile west of Hartsfield International Airport. With the ABS lease, Airport Center II will be 52% leased. Airport Center II consists of the 635,000-sf Building 6 and the one-million-sf Building 5, both of which were constructed on a speculative basis.
Majestic is also constructing Airport Center III, a 190-acre speculative industrial park along Interstate 85. The first phase, expected to be completed by the end of the year, will consists of three buildings ranging in size from 100,000 to 200,000 sf.
“Activity has been good so, as a result, Majestic continues to increase supply to meet the needs of existing customers but also to capture demand in the market,” Carter says.
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