By: Tom Bailey, Daily Memphian
An Atlanta firm that develops industrial real estate will “immediately” start building a 957,400-square-foot warehouse in its new industrial park at Miss. 302 and I-269 in Marshall County, Mississippi.
The cross-dock facility, “Building D,” will be the first of five buildings totaling 3 million square feet that Core5 Industrial Partners will erect on the 221 acres it acquired at the highway junction southeast of Memphis, according to a press release from the company.
The new industrial park is named I-269 Logistics Center. The first building is scheduled to be completed early next year, and can be expanded to 1.74 million square feet. The facility will feature 40-foot-tall, clear ceilings, which is the space a tenant can use to store products on racks. The facility will accommodate parking for 391 trailers and 597 automobiles.
Lisa Ward, senior vice president and managing director for Core5, said in a release, “Located at Highway 302 and I-269, the property provides outstanding highway visibility and access coupled with easy proximity to the Memphis rail line which is the third most-connected rail center in the world.
“Memphis is one of only three cities to have five Class I railroads — Norfolk Southern, BNSF, CN, Union Pacific, and CSX. This will be an ideal facility for e-commerce fulfillment,” Ward said. Read More
A Southern California investor has acquired a package of three newly constructed net-leased industrial buildings in the Sun Belt, two of which are leased to online retail giant Amazon.
Preylock Holdings of Los Angeles paid $166.7 million, or nearly $76 per square foot, for the 2.2 million-square-foot portfolio. The portfolio includes Crossroads Business Center, a 1 million-square-foot distribution center at 5705 Campbellton Fairburn Road in Union City, Georgia, near Atlanta.
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Southwest 85 Logistics Center Set to Immediately Break Ground on 109-Acre Site in the I-85 South Corridor of Metro Atlanta, Georgia
ATLANTA, August 16, 2017 – Atlanta-based Core5 Industrial Partners has closed on a 109-acre, fully entitled industrial site at Exit 51 in the I-85/Southwest Atlanta submarket. Core5 will immediately break ground on the development of Southwest 85 Logistics Center, a 1.1 million-square-foot state-of-the-art facility, which is expandable to 1.3 million square feet and has all the attributes of an e-commerce fulfillment center. Delivery of the building is scheduled for the second quarter 2018.
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