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Core5 Industrial Partners Starts 1 Million-Square-Foot Hendricks Gateway Park Industrial Building

INDIANAPOLIS, July 16, 2019 – Core5 Industrial Partners, a new-to-Indianapolis developer and owner of industrial properties, has started construction on a 1,070,160 square foot building in Hendricks Gateway Park located at I-70 and State Road 39 in Monrovia. The building is the first 40-foot clear height speculative building to deliver in the market and will be available in the second quarter of 2020. The million-square-foot building is expandable to approximately 1.7 MSF square feet and offers generous parking for 663 auto spaces and 251 trailer storage locations with options to grow to 372 trailer spaces. “Core5 is bringing the best-in-class ideas to the Hendricks Gateway project”, declared Doug Armbruster, Senior Vice President for Core5. “It will be a real game changer for the market. The access is exceptional. Coupled with 40’ clear height, a 10 year real estate tax abatement, and strong labor markets, it’s an unbeatable location for e-commerce users who need access to the interstate system and the airport cargo facilities”, added Armbruster. The Indianapolis International Airport houses the world’s 2nd largest FedEx facility and Indianapolis is the 8th largest cargo airport in North America. The project is adjacent to I-70 where the highest concentration of commodities flow through Indiana.  The interchange is being improved to a diverging diamond interchange as well. CBRE’s Andrew Morris and Jeremy Woods, who represented CORE5 in purchasing the 76 acres the new building sits on, will represent Core5’s leasing efforts for the building. “This project checks all the boxes in site selection – location, infrastructure, labor, incentives and the latest in distribution space design”, states Morris. The project team consist of GDI Construction, MacGregor Associates Architects, and Structurepoint. Hendricks Gateway Park is currently home to DHL, Chewy.com, Johnson & Johnson and Geodis.
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DeSoto 55 Logistic Center building sold

Atlanta-based Core5 Industrial Partners have announced the sale of a 581,475-square-foot building located in DeSoto 55 Logistic Center, a 173-acre park situated on U.S. Highway 51 in DeSoto County. The initial cross-dock facility, located at 1241 Commerce Drive in Horn Lake and known as Building A, was sold to a Fortune 500 company to use as a key facility in their distribution network. Elliot Embry with NAI in conjunction with NAI Global Corporate Solutions represented the undisclosed buyer. (more…)
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Fortune 500 Firm Buys MS Industrial Property

Core5 Industrial Partners has sold a 581,475-square-foot industrial property situated within the Desoto 55 Logistics Center, a 173-acre park in Horn Lake, Miss., to a Fortune 500 company. NAI Saig Co. Vice President Elliot Embry represented the buyer in the deal. Located at 1241 Commerce Drive, the property referred to as Building A is a cross-dock facility and will be utilized by the new owner for its distribution network. The location offers access to the interstate system, a targeted labor pool, the pro-business environment of both DeSoto County and Horn Lake as well as the state of Mississippi. It’s also less than 10 miles from Memphis International Airport. (more…)
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Core5 Industrial Partners Sells 581,475 SF Logistics Center in Metro Memphis

HORN LAKE, MISS. — Core5 Industrial Partners has sold the 581,474-square-foot Building A within Desoto 55 Logistics Center in Horn Lake. The business park sits on 173 acres about 18 miles south of Memphis. An undisclosed Fortune 500 company acquired the asset. The sales price was not disclosed. In addition, Core5 announced that Building B, a 300,145-square-foot facility, has been fully leased to DSV Solutions LLC and EPE Industries USA, which are both set to occupy the space this quarter. Three other buildings are planned within Desoto 55. At full build-out, the business park will span more than 2.5 million square feet. All three buildings are expected to be delivered by the end of this year. (more…)
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Vital Pharmaceuticals pays $35M for Pembroke Pines warehouse

Vital Pharmaceuticals paid $35 million for a new warehouse in Pembroke Pines, which it plans to use as its new headquarters. The sports supplement company purchased the 224,572-square-foot industrial property for $155 per square foot from Helms Development and Core5 Industrial Partners, records show. The 11.6-acre site at 20311 Sheridan Street formerly housed a women’s state prison. (more…)
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Energy drink maker buys distribution center for $35M

Vital Pharmaceuticals, the maker of Bang energy drinks and other health-focused products, acquired a new distribution warehouse in western Pembroke Pines for $35 million.

South Florida Distribution Center Building A LLC, a partnership between Atlanta-based Core5 Industrial Partners and Helms Development, led by Scott Helms, sold the 224,572-square-foot warehouse at 20311 Sheridan Street to Sheridan Real Estate Investment A LLC, managed by John H. Owoc, the head of Weston-based Vital Pharmaceuticals, also known as VPX.

 
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