News
BUMPING UP RENTS
January 14, 2013
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| Finally, industrial tenants are making longer commitments (settling down with the right building is actually a good thing). That's according to Stream Realty's Matt Dileo (center, with Russell Dye and Nicolai Schwarzkopf), who is seeing tenants at its portfolio of properties in Atlanta now looking to secure space for up to 10 years, instead of three- to five-year deals. And this helps landlords, given that rents—while still market rate—have ?more bumps? during the life of a 10-year lease. After grabbing the leasing and management of the 1M SF DRA Advisors portfolio here, Matt says his team has secured some 400k SF in deals, including a 265k SF lease with Chep at 5886 Fulton Industrial and a 50k SF renewal with Maxwell Chase Technologies. | |
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| Speaking of Stream, the firm partnered with Brookwood Investment Group to sell the former Solvay Pharmaceutical facility at 793 Sawyer Rd in Marietta to WellStar Health System, which will use the 112k SF office building as its new HQ. Price was undisclosed. Stream?s Simon Arpiarian and McWhirter Realty Partners' Dan Buyers brokered the transaction. |
