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| Rendering of planned DeSoto 55 Logistics Center, DeSoto County, Mississippi |
ATLANTA,GA – Atlanta-based
Core5 Industrial Partners announced the acquisition of 173-acres of fully
entitled land located at US Highway 51, in DeSoto County along the I-55/I-69
corridor to develop a 2.5- million-square-foot business and logistics park
named DeSoto 55 Logistics Center.
Core5 will immediately
begin construction on 883,720 square feet of Class-A office/warehouse space in
two buildings: a 582,400-square-foot facility and a 301,320-square-foot
rear-load building which will present higher office build-out capability. Both buildings
will offer speculative space for delivery in Fall 2017.
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| Lisa Ward |
DeSoto 55 Logistics Center
will provide an outstanding business environment in a park-like setting with
close proximity to the I-55 transportation corridor and a deep and qualified
labor pool from which to draw potential workforce.
Other key attributes of
DeSoto 55 Logistics Center are the pro-business environment of both DeSoto
County and the City of Horn Lake, MS coupled with the flexibility of building
designs offering space for companies desiring 85,000 square feet to over 1.5
million square feet.
At full build-out, anticipated by the end of
2019, DeSoto 55 Logistic Center will accommodate over 2.5 million square feet
in up to five separate buildings.
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| Tim Gunter |
The 582,400-square-foot
cross dock Building A-1 is expandable up to 1.5 million square feet and will
showcase 36’ clear height coupled with generous parking at 98 trailer storage
spaces, expandable to 175, and 342 auto spaces.
Building B is a
301,320-square-foot rear load facility offering 32’ clear heights and 80
trailer storage spaces together with 270 auto spaces. Both buildings feature 6’
DuctilCrete slabs with joints only at column lines.
The acquisition marks
Core5’s entry into the Memphis market. Core5 CEO Tim Gunter announces, “We are pleased to enter Memphis in what we
believe is one of the finest properties within the greater Memphis industrial
market.
Gunter, the former CEO of
IDI, has overseen years of successful development in the Memphis industrial
market and looks forward to continuing that success with the acquisition of
DeSoto 55 Logistics Center.
“After an extensive review
of potential development sites and interviews with local employers, it was
clear that the location of DeSoto 55 Logistics Center offered superior access
not only to highway and logistics infrastructure but also to a large, qualified
labor pool from which to attract the workforce – two key factors considered by
logistics operators.
DeSoto 55 Logistics Center
offers exceptional access to both,” said Lisa
Ward, Senior Vice President and Managing Director of Core5.
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| Rodney Davidson |
“The State of Mississippi,
DeSoto County and the City of Horn Lake have created a pro-business
environment,” declares Rodney Davidson,
Vice President Investments for Core5. “They have been great to work with and
any business looking at DeSoto 55 Logistics Center should expect to find them
responsive and easy to work with as well.”
“The DeSoto Council is
encouraged that a company of the professional stature and impeccable reputation
of Core 5 would select our county and the City of Horn Lake as their latest
industrial development venture in the establishment of the DeSoto 55 Logistics
Center.
“The Core 5 partnership
that will be achieved with the local and state officials will ensure that our
area continues to win the top supply chain and logistics centers in the
mid-South and we look forward to the success of this investment”, said Jim Flanagan, President/CEO for DeSoto
County Economic Development Council.
Colliers International’s
Memphis team of Dan Wilkinson, Brad Kornegay and Allen Wilkinson will handle
marketing and leasing for DeSoto 55 Logistics Center on behalf of Core5.
“The Colliers
International team has been an exceptional partner in the execution of Core5’s
acquisition of this property and their marketing efforts to date. Core5 is fortunate to have such a
well-respected company and team as our marketing partner on this project,” said
Ward.
For a complete copy of the company’s news release,
please contact:
Rita Skaggs
Red Dart Real Estate
Consulting
404-788-3231
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