Oakmont Industrial Group has secured a full-building tenant for a speculative warehouse it expects to complete later this year in Buford, Georgia.
Wheel Pros, an after-market wheel distributor out of Colorado, signed a lease to take all 333,235 square feet at Oakmont 85 North. The property is being developed near interstates 85 and 985 and minutes from the 1.8 million-square-foot Mall of Georgia at 3020 Gravel Springs Road.
The Duluth-Suwanee-Buford has been a hotbed for industrial activity in recent years. For tenants looking to distribute regionally, its location at the northeastern edge of the market with direct access to Interstate 85 and the Norfolk Southern Railroad makes it ideal for servicing the fast-growing Carolinas or sending product up the East Coast, according to CoStar’s latest report on the submarket.
The elevated leasing activity continued through 2020, with industrial leasing volume last year nearly doubling 2019 figures. The strong leasing activity, buoyed by deals from Ta Chen International, thredUP and Walcut, has helped push the submarket’s vacancy rate to just 3%.