(ATLANTA) -- Hines, the global real estate investment manager, today announced 218,000 square feet in new leasing and sales activity at Thurmon Tanner Logistics (“Thurmon Tanner”), a newly constructed, 825,000-square-foot Class A industrial park located in Flowery Branch, Georgia, directly northeast of Atlanta. The firm has signed a 107,000-square-foot lease at Thurmon Tanner’s Building B with Mimaki USA, a leading manufacturer of wide-format printers, and has sold the 111,000-square-foot Building C to ETI Solid State Lighting, Inc. (“ETI Lighting”), an LED lighting manufacturer and distributor. Thurmon Tanner’s Building A was sold earlier this year.
“The strong leasing and sales momentum we’ve experienced at Thurmon Tanner is a testament to the quality of the asset and modern amenity base, as well as its optimal location, which provides easy access to Atlanta and the entire Southeast,” said Ryan Wood, managing director at Hines. “The property’s success reflects Hines’ expertise in developing industrial master-planned business parks, resulting in a best-in-class, strategically located asset that can cater to a wide variety of tenant uses. Moreover, Atlanta’s strong labor force has made it one of the nation’s fastest-growing industrial markets, generating significant interest from local companies seeking to establish a presence in the region.”
Mimaki USA’s new space will consolidate and modernize its two existing locations and serve as its U.S. headquarters. In addition to a large warehouse and distribution center, Mimaki’s space at Thurmon Tanner will include office space and a showroom. ETI Lighting will use the entirety of Building C for its manufacturing, distribution and servicing operations.
Thurmon Tanner is situated in a prime location along the I-985 corridor, providing companies with convenient access to the region’s robust labor force. Its remaining 160,000 square feet of available space is move-in ready and offers 42 dock doors, 153 parking spaces, 45 trailer spots and 185’ truck courts.
Craig Viergever of Lee & Associates represented ETI Solid State Lighting, Inc. in the purchase of Building C, and Bob Currie of JLL represented Mimaki USA in the lease transaction. Hines was represented by Walker Adams and Austin Brannen of NAI Brannen Goddard in both transactions.
The lease and sale exhibit Hines’ momentum across its southeast U.S. industrial portfolio. It recently sold Busch Logistics Park, a fully leased industrial development located in Cartersville, Georgia, for approximately $67.5 million. Earlier this year, Hines sold Tampa Commerce Center, a fully leased, four-building, 600,000-square-foot urban infill campus, for roughly $94.5 million.
About Hines
Hines is a leading global real estate investment manager. We own and operate $93.0 billion1 of assets across property types and on behalf of a diverse group of institutional and private wealth clients. Every day, our 5,000 employees in 31 countries draw on our 67-year history to build the world forward by investing in, developing, and managing some of the world’s best real estate. To learn more, visit www.hines.com and follow @Hines on social media.
¹Includes both the global Hines organization and RIA AUM as of June 30, 2024.
