Atlanta Industrial Market Experiences Significant Activity in 2nd Half of 2020
ATLANTA, GA (December 22, 2020) – Stream Realty Partners (Stream), a national real estate services, development, and investment company, is pleased to announce that its industrial team in Atlanta has closed three significant leases totaling over 454,000 square feet at three separate industrial properties during the fourth quarter of 2020. The Stream Atlanta team of Bradley Dunn, Beau Acuff and Olivia Diaz represented ownership in all three transactions.
“Atlanta’s industrial leasing market is firing on all cylinders. Tenants are looking to make decisions quickly after delays earlier in the year. Our landlords’ speed and decisiveness made these deals possible. We’re thankful for their trust, and excited to get the job done,” said Bradley Dunn, Managing Director for Stream Atlanta.
“Earlier this year, nearly every square foot of leased space along the I-75 South and I-85 South corridors came from Amazon and name-brand 3PLs who had the cash reserves to weather the storm. We’ve been pleased to see the middle market wake up, and there’s no denying that demand for industrial space remains strong in Atlanta,” said Beau Acuff, Senior Associate in Stream’s Atlanta office.
The recently closed transactions include:
- Fr8Auctions’ 301,900-square-foot new lease at 4091 Southmeadow Pkwy West in Atlanta. The entire warehouse had been fully vacant prior to Fr8Auctions signing on as a tenant. Within a seemingly impossible timeframe, all parties were able to negotiate, finalize terms, and fully execute a lease just three days after initial conversations. Stream represented the landlord, DRA Advisors LLC, in the transaction, while Brad Bays with King Industrial Real Estate represented the tenant.
- An 82,836-square-foot new lease signed by Elite Ops at Graham Logistics Center, 7375 Graham Drive in Fairburn. An e-Commerce fulfillment company out of Utah, they recently expanded their operations to the East Coast. In a similar demonstration of execution speed, the lease was signed just two weeks after initial conversations with Elite Ops’ broker, Jacob Westfall with CBRE. Stream represented ownership, Bixby Land Company, in the transaction. Elite Ops joins a tenant roster including Wesco Distribution and Hyundai Glovis.
“We were on a tight timeframe. CBRE identified 7375 Graham Road as a good fit and in move-in ready condition. Bixby Land Company and their brokers (Stream Realty Partners) understood our timeline and responded rapidly to our RFP. The negotiation was streamlined, and we got the lease signed in the required timeframe. It was a great job by all parties,” said Wade Melton, President of Elite Ops.
- A 70,000-square-foot lease signed by Devgiri Exports at Logistics Central, located at 1310 Citizens Pkwy in Morrow. The rug-and-home textile manufacturer has experienced considerable growth this year, and the new distribution facility will allow them to reach households along the I-75 South corridor. They join existing tenants Tensar and Dean Warehouse at the three-building industrial park. Stream represented the landlord, DRA Advisors LLC, while Dave Smith with Joel & Granot represented Devgiri.