At 775 Tipton Industrial Dr., Aramark Uniform & Career Apparel LLC, a unit of Philadelphia-based Aramark Corp. that provides uniform rental/leasing, design, manufacturing and maintenance services, signed a five-year renewal for 84,200 sf.
Also, locally based Peachtree Packaging has renewed its 74,140-sf lease at 770 Tipton Industrial Dr. for five years. The company has also extended its existing 98,317-sf lease at 770 Marathon Industrial Dr. for five years. Built in 1996, 770 Tipton Industrial Dr. is a 176,000-sf building and, built in 1999, 775 Tipton Industrial Dr. is a 304,200-sf building. Both are located near GA 316 off of Sugarloaf Parkway.
Colliers Spectrum Cauble senior vice president and principal Bill Buist, and assistant vice president Elizabeth Moning represented Capri Capital Partners in negotiating the transactions. The properties are all located in the Gwinnett County/Interstate 85 Northeast submarket.
According to a CB Richard Ellis Q3 Atlanta industrial market report, leasing activity in the Northeast submarket has been strong, even though activity throughout the Atlanta area has been lackluster during the quarter. In the Northeast submarket, the vacancy rate was 15.9% at the end of the quarter, with 3.2 million sf of leasing activity year-to-date and 2.24 million sf under construction. Average asking rates were $5.28 at the end of the quarter, the report states.
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