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.
The second existing building in the park, Building B, is a 300,145-square-foot rear-load building that has been fully leased to DSV Solutions, LLC and EPE Industries USA which will both occupy in first quarter 2019. DSV Solutions was represented in-house and EPE Industries was represented by Jacque Beeson of CBRE.
With the initial two buildings being fully committed within three months of completion, Core5 will immediately begin design and construction on the final three buildings in the DeSoto 55 Logistics Center, totaling 1.5 million square feet.
The largest building of the three, Building D will be a 860,915-square-foot cross-dock building and feature 36 feet of clear height, 326 auto spaces and up to 196 trailer spaces. The two additional buildings will be a 328,355-square-foot cross-dock with 36 feet clear height and a 316,885-square-foot rear-load building with 32 feet clear height. All three buildings are anticipated to deliver in the last quarter of 2019.
At full build-out, DeSoto 55 Logistic Center will accommodate just under 2.5 million square feet in five separate buildings.
DeSoto 55 Logistics Center provides a business environment in a park-like setting with proximity to the I-55 transportation corridor and a deep and qualified labor pool from which to draw potential workforce. Other key attributes that have proven successful to the property are the pro-business environments of both DeSoto County and the City of Horn Lake.
“The two key factors considered by logistics operators is immediate access to transportation infrastructure and access to a qualified labor pool. DeSoto 55 Logistics Center offers unparalleled access to both,” said Lisa Ward, Senior Vice President and Managing Director of Core5.
“The State of Mississippi, DeSoto County and the City of Horn Lake have created a pro-business environment that is both responsive and easy for prospective tenants seeking to do business in the area,” declared Rodney Davidson, Vice President Investments for Core5.