(Read more on the industrial market.)
ATLANTA-Ply Mart Inc. has signed deals to take space in two ProLogis locations: one 30 miles northeast of Atlanta and one in South Carolina. All total, the supplier of homebuilding materials is taking 61,000 sf.
In the first deal, Ply Mart preleased 36,000 sf at ProLogis Park Buford. The property is a 42-acre industrial park under development. With a total 143,000 sf, ProLogis is targeting a completion date before the year is out. When fully built out, the park will include three facilities totaling approximately 500,000 sf. In the second deal, Ply Marts is taking 25,000 sf in a ProLogis building at Metro Court Distribution Center in Greenville, SC. The building contains a total of 60,000 sf.
At both locations, locally based Ply Mart will set up regional warehouse and distribution facilities for one of its specialty divisions. "ProLogis has been a great partner for Ply Mart and we're excited about working with them in these new locations," Chris Williams, chief financial officer for Ply Mart, says in a statement. "The configuration and location of our new facilities will enhance the service we are able to provide to our customers and will support the continued growth of our business."
ProLogis Park Buford provides access to I-985 and I-85. Metro Court Distribution Center in Greenville offers access to I-85.
"Ply Mart has been a long-time ProLogis customer in other markets and we are very pleased to be expanding with them in the Southeast," adds David Welch, first vice president and market officer for ProLogis in Atlanta.
According to Colliers Spectrum Cauble, the second quarter industrial rental rate for Atlanta was $3.65 per sf, triple net, with the Northeast Atlanta submarket coming in at an average $4.14 per sf.
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