Port Logistics Realty signed a more than 1 million–square-foot lease at its Palmetto Logistics Park in the hot Interstate 85 South industrial corridor.
The deal with Drive DeVilbiss Healthcare is a finalist in the Industrial category in Atlanta Business Chronicle's Best in Atlanta Real Estate Awards.
In the deal that closed last year, Drive DeVilbiss, a global manufacturer of respiratory and ambulatory medical products, leased a little over 1 million square feet at Palmetto Logistics Park, a 340-acre, 4-million-square-foot, master planned logistics park in located on Roosevelt Highway near I-85 in the south Fulton County community of Palmetto.
Palmetto Logistics Park is being developed by a venture comprised Newport Beach, Calif.-based industrial developer/owner CT Realty, Dallas-based Port Logistics Realty, River Oaks Capital Partners and Prudential Global Investment Managers.
Drive DeVilbiss was represented by Jason Goldmanand Bob Robers of Cushman & Wakefield, while ownership was represented by Ben Logue and Price Weaver of Colliers International.
“This building meets the expansion needs of Drive DeVilbiss Healthcare and represents the high caliber of distribution facilities in demand throughout the region,” said Eben Hardie of River Oaks Capital Partners.
Palmetto Logistics Park’s location with respect to I-85, the CSX-Fairburn Intermodal Terminal, Hartsfield-Jackson International Airport, and the city of Atlanta was a key in getting this deal done, Weaver said. “Proximity to the airport and the city is especially attractive to a lot of tenants,” he said.