Lincoln Brokers Leases Totaling More than 15,500 Square Feet at Parker Court Business Center in Metro Atlanta
Lincoln Property Company Southeast (Lincoln) has brokered leases totaling 15,582 square feet at Parker Court Business Center, a nine-building industrial park in Stone Mountain, Ga., that contains 243,096 square feet of flex and warehouse space. Denton Shamburger, vice president of industrial leasing for Lincoln, and George Gwaltney, a leasing associate with the firm, represented the landlord in the transactions; no other brokers were involved in the deals.
The details of the leases are as follows:
• Test Equipment Distributors LLC renewed its lease of 4,893 square feet.
• Spartan Transportation signed a new lease for 3,653 square feet.
• SPSC Inc. renewed its lease of 2,654 square feet.
• Diamond Diva All Stars LLC signed a new lease for 2,446 square feet.
• Nextstim signed a new lease for 1,936 square feet.
The activity at Parker Court Business Center comes amidst an improving Atlanta industrial market. At the end of fourth-quarter 2014, metro Atlanta’s industrial vacancy rate was 8.8 percent, down from 10.3 percent at the conclusion of last year’s first quarter, according to CoStar. The Stone Mountain industrial submarket has been even tighter, posting an 8.6 percent vacancy rate at the end of last year.
“We are excited about the performance of Parker Court Business Center,” Shamburger said. “As the economy continues to improve, we expect to see even more interest in the park.”
Built in the 1980s, Parker Court is located just off Highway 78 near the entrance to Stone Mountain Park. “This is a perfect location and environment for smaller industrial tenants needing proximity to I-285 and the eastside suburban markets of Metro Atlanta,” Shamburger said.