UNDERSTATEMENT

Leave it to Industrial Development International's Jay Mitchell to call securing two of 2010's larger big-box industrial deals a ?slow year.?
 
The big deals: a  745K lease  with Colgate-Palmolive at its Westpoint A building on Rock House Road in Lithia Springs, and a 1.1M SF build-to-suit with The Clorox Co. at its Southcreek Industrial Park in Fairburn. Jay tells us that those two deals (note: Jay was unable to confirm Clorox, despite previous media reports) capped a total of 3.5M SF of leasing over the past 18 months. ?Probably half of those deals, not including the build-to-suit, were large deals, but the rest of them were the typical bread-and-butter ones,? he says. But he expects the trend of steady work looking like it will continue into 2011. Rents have also stabilized among IDI's portfolio as corporate industrial activity continues to be driven by consolidation and efficiency improvements. One concern Jay has is the potential for inflating costs of construction materials, particularly steel and concrete. ?If those prices start going up, that could be bad news for new construction, but good news for existing buildings.? Jay will be a panelist at Bisnow's Industrial Real Estate Summit  on Nov. 30 at the Westin Buckhead. Tickets can be purchased here, but hurry as seating is limited  for this event.

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's Atlanta Newsletters
Related Stories

More Details Emerge On Grady's $1B South Fulton Hospital Plan

JLL Taps Mark Gibson For Newly Created U.S. CEO Role

Wonderful Real Estate Inks Major Land Deals, Sells 1M SF Facility Near Bakersfield

Atlanta Is Putting Stormwater Compliance In The Spotlight. Are Building Owners Prepared?

From Precast To Conservation: Addressing Today's Stormwater Challenges

Ireland's AI Funding Boom Helps Drive Down Dublin Office Vacancy Rates

How AI Is Reshaping Brokerage Operations And Investor Portfolios

TikTok Inks 1M SF Warehouse Lease: The Atlanta Deal Sheet

Rates, Rents And AI Risks: Peter Linneman's Warning For CRE

Interest Rate Hike Douses Outlook For Atlanta Developers

Delaware Statutory Trust Fundraising Jumps 27% From 2025

CRE Finance Sentiment Index Falls To 3-Year Low As Economic Fears Mount