CBRE Set to Market and Lease Phase II Buildings Following Successful Leasing of Initial Phase I Building
Cincinnati – September 2, 2021 – Core5 Industrial Partners announced today that Phase II of the Core5 Industrial Partners speculative multi-building industrial project is scheduled to break ground in the third quarter of this year in Elsmere, Kentucky.
Phase II will feature two buildings totaling 869,308-square-feet. Building 2 offers 585,064-square-feet of cross-dock capability for larger tenants while Building 3 will offer 284,244-square-feet of single-loaded space, creating leasing opportunities for smaller end-users. Phase II follows the successful leasing of the Phase I -- 839,931-square-foot C5 Airport East Logistics Center Building 1 to Diversey, Inc. at 7900 Foundation Drive. This building is scheduled to be completed in Q1 2022.
Doug Armbruster, Core5’s Senior Vice President of the Midwest Region, is leading the development.
“We are excited to start Phase II of this project. We are proud to be developing in the city of Elsmere and Kenton County. Combining exceptional infrastructure with strong community partnerships is key to our success, and this location in Elsmere provides almost immediate access to the CVG cargo hubs as well as a strong labor market in a close-in infill location."
CBRE’s Doug Whitten represented Core5 Industrial Partners during the Phase I leasing and will be responsible for the marketing and leasing of all future buildings at the site.
“This project represents an amazing opportunity for companies to operate in innovative and ultramodern speculative industrial facilities with a fantastic level of access to the greater Cincinnati and Northern Kentucky markets,” said Whitten. “Speculative facilities with this type of access to quality labor are hard to find and we are seeing ever-increasing demand for high-quality facilities in this area. We expect the future phases of the project to draw interest from a variety of manufacturers, e-commerce and logistics companies that are looking to fortify their supply chain capabilities in the Midwest.”
The site is strategically located 2.5 miles from Interstates 75 and 71 and provides convenient access to CVG International Airport.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2020 revenue). The company has more than 100,000 employees serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
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 More123…32Next »
Construction Slated to Begin Immediately on Central 840 Logistics Center -- a 925,680-square-foot cross dock facility expandable up to 1.4 million square feet.
ATLANTA, January 12, 2021 – Core5 Industrial Partners, a new-to-Nashville developer and owner of industrial properties, has started construction on a 925,860-square foot cross dock building located along I-840 in Lebanon, just minutes from I-40. The building, Central 840 Logistics Center, is expandable to approximately 1.4 million square feet and offers generous parking for up to 3,018 auto spaces and 212 trailer storage locations. The building will be available Fall 2021. This logistics center is conveniently located just off Central Pike (Highway 109) making this the ideal location for access to on all major interstates in Nashville with access for local, regional, and national distribution.
The land acquisition marks Core5’s entry into the Nashville market. Core5 CEO Tim Gunter announces, “We are pleased to enter the Nashville market in what we believe is one of the finest development sites within the greater Nashville Industrial Market”. Tim Gunter, the former CEO of IDI, has overseen years of successful development in Nashville, and looks forward to continuing that success with the development of Central 840 Logistics Center.
“After an extensive review of potential development sites, it was clear that the location of Central 840 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. The two key factors considered by logistics operators is immediate access to transportation infrastructure and access to a qualified labor pool – Central 840 Logistics Center offers superior access to both,” said Lisa Ward, Senior Vice President and Managing Director of Core5.
“We are excited that Core5 Industrial Partners will be locating in Lebanon at Central Pike and SR 840 and we welcome them to our community,” Lebanon Mayor Rick Bell said. “Core5’s experience and commitment to a new Class-A building at this location will be a major investment in the city of Lebanon.”
Proventure’s Jeb Atkinson, Jess Anderson and Doug McDowell, who represented Core5 in purchasing the 89 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 Atkinson.
About Core5 Industrial Partners
Core5 Industrial Partners is an industrial real estate property company with expertise in development of Class-A properties featuring the latest innovations throughout the United States. Headquartered in Atlanta, Georgia, Core5 has development activity in Atlanta, Chicago, Cincinnati/Northern Kentucky, Columbus, Dallas, Houston, Indianapolis, Los Angeles/Inland Empire, Louisville, Memphis, Nashville, Pennsylvania and South New Jersey with expansion plans to additional key logistic hubs in the US. Founded in 2015, the company has developed or begun construction on 26 million square feet since inception.
Immediate access to capital, coupled with the ability to financially support deals on their balance sheet without utilizing third party resources on most transactions, Core5 executes quickly without layers of bureaucratic, time-consuming processes. The company is privately held by 170-year-old Japanese-based Kajima Corp – one of the world’s largest A credit-rated construction companies with whom C5 leadership has sustained a 30+ year working relationship.
Named for its five core principles, the company values are centered around a highly flexible entrepreneurial spirit promising follow through on commitments with an emphasis on relationships, excellence in quality, attention to detail and quick decision making. For more information on Core5 Industrial Partners, visit www.c5ip.com.
Read More« Previous1…34567…22Next »