Atlanta-Area Industrial Asset Reaches Full Occupancy
- Jul 28, 2017
Liberty Property Trust inked a new lease with LaserShip Inc. and a lease renewal with Home Depot at a 241,578-square-foot industrial building in Kennesaw, Ga. Following these deals, the property has reached 100 percent occupancy.
Located at 1325 Chastain Road, the distribution warehouse is part of the two-building Chastain Distribution Center developed in 1998. The facility features four front-loading suites, each offering 30-foot clear heights, as well as oversized drive-in ramps and 22 dock-high doors. The property offers 104 parking spaces and a 220-foot truck court.
CBRE First Vice President Todd Barton and Vice President Mark Hawks worked on behalf the landlord, while Director Ken Wiesen of NAI Brannen Goddard represented LaserShip in the lease negotiations. LaserShip is a provider of distribution services for e-commerce and product supply businesses. CBRE Vice Chairman Tony Kepano represented Home Depot in the lease renewal.
“Chastain Distribution Center is strategically located near interstates 75 and 575 and is close to Town Center, which makes it highly desirable to tenants,” said Steve Rowley, Liberty vice president & market leader in Atlanta, in prepared remarks. “From here, they can deliver products within hours in the Atlanta Metro or within a day to much of the Eastern Seaboard.”
According to Yardi Matrix, Liberty Property Trust acquired the industrial park in a 173-building portfolio from Cabot Properties in 2013. The firm recently secured a new industrial lease at its newly completed Miami International Tradeport Building C in Medley, Fla.
Image courtesy of Yardi Matrix