Warehouse ceilings may be reaching farther into the sky, but it is not necessarily because tenants are demanding it.
“We are building 40-foot clear [ceiling heights]. We have not had a tenant to date utilize that,” Core5 Industrial Partners Managing Director Lisa Ward said.
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An online retailer has snapped up a huge industrial complex in southern Dallas County.
VMInnovations - a digital retailer that sells a variety of brand-name products for home and garden, sports and outdoors and electronics - is leasing 416,891 in a new industrial building on Wintergreen Road in Hutchins.
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Core5 Industrial Partners Leases 416,891 Square Feet to VMInnovations in Core5 Logistics Center at Wintergreen in South Dallas Market
June 18, 2018 – Core5 Industrial Partners announced today a 416,891-square-foot lease in their Core5 Logistics Center at Wintergreen location in South Dallas to VMInnovations, an online retailer that sells a variety of brand-name products in categories including baby and kids, home and garden, sports and outdoors, and electronics. The company’s new South Dallas location will provide order fulfillment to locations across the South.
Core5 Logistics Center at Wintergreen is located on a 43-acre site in Hutchins, Texas ½ mile from the intersection of Wintergreen Road and I-45. The 754,897-square-foot building has 337,406 square feet remaining available for lease. The VMInnovations lease is the first Core5 lease in the Dallas market.
“With immediate gateway access to north and south bound travel, the site has excellent access to the DFW metro’s major thoroughfares I-45, I-20 and I-35E which are used for both local and regional distribution,” states John Leinbaugh, Vice President Investments for Core5.
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Core5 Industrial Partners announced today a 416,891-square-foot lease in their Core5 Logistics Center at Wintergreen location in South Dallas to VMInnovations, an online retailer that sells a variety of brand-name products in categories including baby and kids, home and garden, sports and outdoors, and electronics. The company’s new South Dallas location will provide order fulfillment to locations across the South.
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Companies that locate in giant distribution centers face a lot of considerations when deciding on a facility. Are the ceilings high enough? Is there enough room to park cars and tractor-trailers? Does the facility have easy access to major interstates?
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The listing of the top owners of industrial real estate was compiled using responses to an online survey, earnings reports and company websites. It is based on the total size of the companies' global portfolios as of Dec. 31, 2017.
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ATLANTA, May 2, 2018 – Atlanta-based Core5 Industrial Partners announced today a 601,350 square-foot build-to-suit for Empire Distributors, Inc. a wholesale beverage distributor that serves three states in the Southeast (GA, TN and NC) and represents over 1,000 brands from around the world. The building resides at 685 Hartman Road in Austell, Georgia. The facility is an expansion for Empire, moving from approximately 300,000 square feet in Atlanta Industrial Park in Fulton County to the new building in Southwest Cobb County. Empire’s corporate headquarters and its regional distribution operations will be housed in the facility which will feature over 80,000 square feet of two-story office space alongside dedicated cooler and distribution space. The entire building will be climate controlled to maintain the high quality of inventory stored. Empire will employ a workforce of over 440 people with anticipated growth to over 510 employees within ten years. The facility plans to be fully operational by the fourth quarter of 2018. Anticipated investment in building and equipment is over $52 million.
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In the past two years, three companies have taken massive amounts of warehouse space at Coweta Industrial Park, enough to convince Pattillo Industrial Real Estate to launch a 300K SF distribution center without a tenant signed up before shovels hit the dirt, its CEO said.
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Core5’s Dallas team recently sponsored CBRE’s 20th Chefs Showcase to help TX-area kids living with chronic illnesses and physical challenges. Thanks, CBRE, for the opportunity to serve the Dallas region!
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Core5 Industrial Partners has sold a newly constructed industrial asset near Atlanta to Empire Distributors, a beverage distributor. The buyer paid $36.7 million for the 601,350-square-foot built-to-suit property, according to Cobb County records.
The new owner plans to move into its new headquarters in the fourth quarter of 2018, following the completion of interior build-out work. Empire’s total investment in the structure is anticipated to be more than $52 million.
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