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Core5 Industrial Partners Starts 1 Million-Square-Foot Hendricks Gateway Park Industrial Building

INDIANAPOLIS, July 16, 2019 – Core5 Industrial Partners, a new-to-Indianapolis developer and owner of industrial properties, has started construction on a 1,070,160 square foot building in Hendricks Gateway Park located at I-70 and State Road 39 in Monrovia. The building is the first 40-foot clear height speculative building to deliver in the market and will be available in the second quarter of 2020. The million-square-foot building is expandable to approximately 1.7 MSF square feet and offers generous parking for 663 auto spaces and 251 trailer storage locations with options to grow to 372 trailer spaces. “Core5 is bringing the best-in-class ideas to the Hendricks Gateway project”, declared Doug Armbruster, Senior Vice President for Core5. “It will be a real game changer for the market. The access is exceptional. Coupled with 40’ clear height, a 10 year real estate tax abatement, and strong labor markets, it’s an unbeatable location for e-commerce users who need access to the interstate system and the airport cargo facilities”, added Armbruster. The Indianapolis International Airport houses the world’s 2nd largest FedEx facility and Indianapolis is the 8th largest cargo airport in North America. The project is adjacent to I-70 where the highest concentration of commodities flow through Indiana.  The interchange is being improved to a diverging diamond interchange as well. CBRE’s Andrew Morris and Jeremy Woods, who represented CORE5 in purchasing the 76 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 Morris. The project team consist of GDI Construction, MacGregor Associates Architects, and Structurepoint. Hendricks Gateway Park is currently home to DHL, Chewy.com, Johnson & Johnson and Geodis.
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PRESS RELEASES

Core5 Acquires 173-Acres to develop a Class-A Business Park totaling over 2.5 MSF and with an anticipated capital investment in excess $125 Million in DeSoto County, Mississippi, a key submarket of the Greater Memphis Industrial Market

Construction Slated to Begin Immediately on the initial two buildings of the new business park, Desoto 55 Logistics Center, which will include a 583,000 SF cross-dock facility expandable up to 1.5MSF and a 301,000 SF rear-load building, both of which will deliver in Fall 2017. ATLANTA, March 22, 2017 – Atlanta-based Core5 Industrial Partners announced the acquisition of 173-acre fully of entitled land located at US Highway 51, in DeSoto County along the I-55/I-69 corridor to develop a 2.5 MSF business and logistics park named Desoto 55 Logistics Center. Core5 will immediately begin construction on 883,720 square feet of Class-A office/warehouse space in two buildings: a 582,400-square-foot facility which is expandable to 1.5 MSF and a 301,320-square-foot rear-load building, which will offer higher office build-out capability. Both buildings will offer speculative space for delivery in Fall 2017.  DeSoto 55 Logistics Center will provide an outstanding business environment in a park-like setting with close proximity to the I-55 transportation corridor and a deep and qualified labor pool from which to draw potential workforce.  Other key attributes of DeSoto 55 Logistics Center are the pro-business environment of both DeSoto County and the City of Horn Lake, MS coupled with the flexibility of building designs offering space for companies desiring 85,000 SF to over 1.5MSF.   At full build-out, anticipated by the end of 2019, DeSoto 55 Logistic Center will accommodate over 2.5 MSF in up to five separate buildings. (more…)
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