Cresa Represents Miller Zell in a 250,000 SF Sublease to United Natural Foods

9/12/16

The sublease will facilitate Miller Zell’s consolidation of its Atlanta operations to a newly purchased building in the Fulton Industrial Business Park.

Cresa, the world’s largest tenant-only commercial real estate firm, recently subleased 258,907 square feet of space originally leased by Miller Zell, Inc. at 5720 Fulton Industrial Boulevard in the Lakeview Business Park in Atlanta to United Natural Foods. Jim Bob Taylor, Managing Principal – Industrial Services, and Scott Hardeman, Vice President, with Cresa represented Miller Zell in its sublease negotiations and in its previous purchase of a building located at 6100 Fulton Industrial Boulevard SW.

Miller Zell was founded over 50 years ago as a printing company and has grown into a large retail design firm, creating in-store retail environments and offering industry insights for clients such as Wal-Mart and SunTrust Bank. In a move to improve operations, Miller Zell is consolidating its five Atlanta facilities into one.

The company recently purchased a 311,500 square foot building located at 6100 Fulton Industrial Boulevard SW in Atlanta, and operates additional facilities in Bentonville, Ark. and Mississauga, Ont.Miller Zell’s new facility will house a design center, large-format printing operation, and corporate headquarters. With three years remaining on its lease term at Lakeview Business Park, the decision to sublease saved the company a considerable amount of money and expedited its consolidation timeline.

David Seem, Chief Financial Officer of Miller Zell, stated, “Cresa was instrumental in our consolidation. The team informed us that it could take up to six months to market the sublease in the Lakeview Business Park, but Jim Bob got it done in 60 days – totally exceeding our expectations. Having the sublease allows us to focus on our core business instead of real estate concerns and to increase productivity through the consolidations of our operations.”

Jim Bob Taylor, Managing Principal with Cresa Atlanta, stated, “The industrial market is extremely tight in Atlanta. Due to the shortage of large blocks of industrial space, we were able to sublease Miller Zell’s space quickly, and for a full reimbursement of rental rate and expenses for the remainder of the lease term.”

United Natural Foods currently occupies 327,308 square feet within Lakeview Business Park and will expand into Miller Zell’s space by October 1. United Natural Foods is the leading independent national distributor of natural, organic and specialty foods and related products including nutritional supplements, personal care items and organic produce, in the United States.

About Miller Zell, Inc.

Miller Zell is a leading retail design firm providing world class in-store selling environments that captivate and connect with shoppers on a practical and emotional level. Using a collaborative approach based upon shopper insights, Miller Zell helps retailers and manufacturers to create retail design programs that engage shoppers, elevate the in-store experience and maximize selling opportunities. For more information, visit www.millerzell.com.

About Cresa

Cresa is the world’s largest tenant-only commercial real estate firm. In representing tenants exclusively—no landlords or developers—Cresa provides unbiased, conflict-free advice. Its integrated services cover every aspect of a real estate assignment, including strategic planning, employee demographics, workplace strategy, site selection, incentives negotiation, market research, transaction management, project financing, project management, portfolio management, and relocation services. Cresa offers clients customized solutions with more than 60 offices in 75 markets worldwide. For more information, visit www.cresa.com.