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Metro Industrial Activity Picking Up

ATLANTA-Amid negative absorption, brokers sign nearly 300,000 square feet in three leases.

By Carl Cronan | Updated on July 06, 2009

ATLANTA-The local industrial market posted more than 641,000 square feet of negative overall absorption through the first half of this year, according to Cushman & Wakefield. Roughly 4.1 million square feet was leased through the second quarter, with the majority of activity focused on consolidations and renewals as companies fine-tune their supply chains.

Even though the midpoint of 2009 appears bleak, industrial deals are getting done in and around Atlanta heading into the third quarter. Duke Realty Corp. signed Los Angeles-based Ta Chen International to a 104,000-square-foot full building lease at its Pinebrook business park. Ta Chen, a distributor of stainless steel and other metal products, will take over 2660 Pinemeadow Court later this month, backfilling space vacated in February by a prior tenant.

“We’re fortunate to add such a quality tenant in the faced of a difficult economic environment,” says Chris Brown, senior vice president of Duke Realty’s Atlanta operations. He notes that the transition was almost seamless because the landlord was able to quickly meet Ta Chen’s requirements.

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