HOME

Subscribe

DeSoto logistics park experiences rapid success

Developer plans to build out all 2.5 million square feet

By Updated: February 20, 2019 11:23 AM CT | Published: February 20, 2019 11:10 AM CT

The owner of a new logistics center near Interstate 55 in Horn Lake will immediately start planning and erecting the last three buildings, totaling another 1.5 million square feet, now that the first two warehouses have been either sold or filled.

It was just in October when Core5 Industrial Partners announced construction was completed for the first two buildings of its 175-acre DeSoto 55 Logistics Center.

On Wednesday, the Atlanta-based firm announced the 581,475-square-foot Building A had sold to an undisclosed Fortune 500 company, which will use it as a key facility in its distribution network.

The 300,145-square-foot Building B is fully leased to DSV Solutions and EPE Industries USA.

“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 DeSoto Logistics Center, totaling 1.5 million square feet,” the company release states.

Of the next three structures, Building D will be the largest, at 860,915 square feet. It will have a cross-dock and 36-foot-tall ceilings, 326 auto spaces and 196 trailer spaces.

The other two buildings include one that will be 328,355 square feet with a 36-foot-tall ceiling and one that is 316,885 square feet with a 32-foot-tall ceiling.

Core5 expects to complete all three buildings by the end of this year. When all five buildings of DeSoto 55 Logistics Center are completed, the business park will comprise 2.5 million square feet of distribution space.

Company officials credited the center’s rapid success to the “pro-business environment” of DeSoto County and Horn Lake, its proximity to I-55, and access to a “deep and qualified labor pool.”

DeSoto 55 Logistics Center offers “unparalleled access” to both transportation infrastructure and a qualified labor pool, Lisa Ward said in a statement. She is Core5’s senior vice president and managing director.

Rodney Davidson, Core5’s vice president for investments, said, “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.”

Elliot Embry, vice president of NAI Saig Co., with NAI Global Corporate Solutions, represented the undisclosed buyer of Building A.

Jacque Beeson of CBRE represented EPE Industries in its lease.



Topics

Commercial Real Estate Logistics And Transportation
Tom Bailey

Tom Bailey

Tom Bailey covers business news for The Daily Memphian. A Tupelo, Mississippi, native, he graduated from Mississippi State University. He's worked in journalism for 40 years and has lived in Midtown for 36 years.


Comment On This Story

Section Emails

Sign up to get the latest articles from the Business section.