Lee & Associates – Atlanta Brings 259,262 SF Industrial Building to 100% Occupancy with Simultaneous Leases in the Atlanta Airport Submarket
Lee & Associates’ Atlanta office is proud to announce the closing of two simultaneous leases bringing the 259,262 square foot industrial building at 4099 Old Dixie Hwy. to 100% occupancy.
Acquired as a value-add last mile facility by Meniscus Group in late 2016, the Lee & Associates team of Mike Sutter, SIOR and Billy Snowden, SIOR represented ownership on the acquisition and subsequent repositioning of the asset. The team advised ownership on approaches to maximizing value including capital upgrades and releasing the project. In 2019, ownership replaced the roof and upgraded the sprinkler to ESFR, which were instrumental upgrades in helping secure both tenants and then expanding them in the midst of the Coronavirus pandemic.
Tobias Lawry, Managing Partner of Meniscus Group said, “Our credibility and relationships within the brokerage communities throughout North America are the most important elements to the healthy growth of our industrial real estate portfolio. For almost a decade, we’ve had tremendous success working with Mike Sutter and the Lee & Associates Atlanta office on our industrial acquisitions, dispositions, and leasing. Impressively well connected, Mike and his team truly live and breathe their market, providing us tremendous value as they identify opportunities that enabled us to grow our Atlanta portfolio significantly. We look forward to continuing our relationship for another 10 years.”