DECATUR, Ga. — The hottest alternative fuel car company in the U.S. is entering the Atlanta metro area.
Tesla Motors, based in Palo Alto, California, is establishing itself as the world's premier manufacturer of high-performance electric sports cars.
Alpharetta-based commercial real estate brokers Brian Patton of Capital Realty Advisors and Josh Barnes of Orkin & Associates pooled their efforts to represent the landlord on an 18,000-square-foot automobile showroom and service center for Tesla Motors. This location will mark their first full-service dealership in Georgia.
The long-term lease deal will be in Decatur, the county seat of DeKalb County.
Tesla is on a growth spurt, with its stock up double over the last 12 trailing months.
"We see a lot of potential in the Decatur market, and that's why the landlord has decided to hold onto the property in the form of a leasehold," said Patton.
Barnes said the landlord is encouraged to see such a strong tenant showing interest in the area. "We like to buy and hold strategic investments," said Barnes. "That's why we are bullish on this market and this property."
Sarah Williams of SRS Real Estate Partners also collaborated on the deal by representing Tesla.
Tesla plans to open more automotive dealerships in the near future, taking advantage of the growing electric car market.