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Dual Deal Allows Tenants to Trade Spaces

ATLANTA-Rockwell Collins takes 175,000 square feet as Stiefel moves into 71,000 square feet.

By Carl Cronan | Updated on October 13, 2009

ATLANTA-Two local office and industrial tenants have agreed to trade spaces within the Northeast submarket in order to avoid expensive lease terminations. Rockwell Collins Satellite Communications Systems Inc. is leasing a total of 175,000 square feet at Northmont Distribution Center in suburban Duluth, while Stiefel Laboratories Inc. will move into 71,000 square feet at Satellite Place, also in Gwinnett County.

Rockwell Collins, a defense contractor formerly known as DataPath, worked with Atlanta-based Colliers Spectrum Cauble to consolidate its existing operations, gain relief from current lease exposure and reduce operating costs. The company occupied four locations, including 70,000 square feet of class A office space at Satellite Place, owned by London-based Strategic Real Estate Advisors, along with a 102,000-square-foot distribution center.

At the same time, Stiefel occupied a 108,000-square-foot flex build-to-suit at Northmont, owned by Atlanta-based Seefried Industrial Properties Inc. The pharmaceutical firm’s needs evolved and called for a class A office environment where it could consolidate its personnel.

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