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A fast-growing Atlanta logistics provider is securing nearly a half-million square feet in one of the city's prime industrial markets.
Broadrange Logistics inked a deal for 409K SF at 105 Kendall Park Lane in the Atlanta Fulton Industrial submarket. Cushman & Wakefield Senior Director Bob Robers and Senior Associate Brian Monaghan brokered the deal for Broadrange.
The firm provides shipping services and warehousing for some of the biggest online retailers in the industry, including Amazon and Wayfair. Its business grew 200% over the past year, Broadrange President Doug Parks said in a release.
“We see this trend continuing and will likely require additional space for future growth,” Parks said.
The Broadrange lease is one of the larger industrial deals inked in Metro Atlanta this year so far, behind the 20-year, 1M SF lease signed last month by PVH Corp., which owns brands like Tommy Hilfiger, Van Heusen, Calvin Klein, IZOD and Speedo. PVH will fill 8500 Tatum Road, a bulk distribution facility at Shugart Farms in Palmetto.
The deals come as leasing in the once red-hot Atlanta industrial market, which saw near record levels of absorption last year at more than 18M SF, has markedly slowed. During the first quarter, landlords absorbed 906K SF, the lowest single-quarter level since 2012, according to a Transwestern report.
“This is most likely a short-term aberration, but it bears watching throughout the year,” Transwestern officials wrote.
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