Alternative Apparel Extends Norcross Lease to 131,000 Sq. Ft.
By Georgiana Mihaila, Associate Editor
Clothing brand Alternative Apparel has chosen to consolidate and expand its headquarters at Indian Brooks business park in Norcross, Ga., having recently signed a long-term, 131,000-square-foot lease renewal.
As of May 1, Alternative Apparel will start occupying the new space and will vacate the 85,000 square feet it holds in two industrial buildings within the office park. The company will consolidate its operations under one roof at 1650 Indian Brook Way. The expanded space will serve as the hub for distribution of Alternative Apparel’s casual clothing lines to its domestic and international customers, as well as provide office space for customer support, operations, finance and other administrative functions. Alternative Apparel currently employs 120 workers in Norcross and a total of 170 employees companywide.
Alternative Apparel CEO Evan Toporek is confident that the consolidated space will ensure the company’s ability to maintain optimum inventory levels as it carries out its growth plans. The company currently has two other office locations, one in Los Angeles and one in New York. It also currently operates two retail stores in Los Angeles and plans on opening a new retail store each quarter over the next three years in key cities across the United States.
In other commercial real estate news, Jamestown has reportedly agreed to sell its 28-story 999 Peachtree to Franklin Street Properties for $158 million. While no official statement has been made, sources familiar with the deal say Eastdil Secured has brokered the transaction, expected to close on July 1, 2013. Current seller Jamestown had purchased the building in February 2007 from the original developer, Childress Klein Properties, for $127 million.
Image 999 Peachtree, courtesy of JamestownTags: leasing, operations