Core5 Enters Memphis with 173-Acre Land Acquisition
- Mar 27, 2017
Southaven, Miss.—Core5 Industrial Partners acquired 173 acres of fully entitled land, located near US Highway 51, in DeSoto County, Miss. The acquisition marks Core5’s entry into the Memphis market.
The company plans to develop a 2.5 million-square-foot business and logistics park named DeSoto 55 Logistics Center. At full build-out, set for the last quarter of 2019, the campus will include up to five separate buildings. Core5 will begin construction on two Class A office/warehouse spaces, totaling 883,720 square feet. Completion of both buildings is slated for the fall of 2017.
The 582,400-square-foot Building A is expandable to up to 1.5 million square feet and will feature 36-foot clear height, 98 trailer storage spaces, expandable to 175 and 342 auto spaces. The 201,320-square-foot Building B will feature 32-foot clear heights, 80 trailer storage spaces and 270 auto spaces. Both buildings will offer 6-foot DuctilCrete slabs with joints at the column lines.
“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 & managing director of Core5, in prepared remarks.
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.
Image courtesy of Core5