Other large leases include Pak-Lite signing for 60,443 square feet in Technology Center's Building F, and Atlantic Packaging moving into 58,140 square feet in Building 300 at Chastain Meadows business park in northwest Atlanta. No additional details of the leases were disclosed.
"We've had a strong couple of months with deals in Gwinett and Cobb Counties," says Walker Wellford, director of industrial leasing with Taylor & Mathis. "We're optimistic for the market and believe our properties are well poised for the kinds of deals out there right now."
Atlanta's industrial market, totaling nearly 500 million square feet, reached close to 10% vacancy at midyear, according to Cushman & Wakefield. Absorption in the market was negative 641,000 square feet through the first half of 2009, with asking rents for manufacturing and warehouse/distribution space averaging less than $4 per square foot.
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