An Atlanta-based industrial real estate developer said it has acquired 173 acres in Mississippi to construct a 2.5-million-square-foot logistics and business park, named "Desoto 55" after the county where the complex will be built.
The developer, Core5 Industrial Partners LLC, said it would immediately begin construction on two buildings that will comprise nearly 884,000 square feet of warehouse/office space. One is a 583,000-square-foot facility that is expandable to 1.5 million square feet. The other is a 301,000-square-foot "rear load" building, where the dock doors are located at the back of the building. Both buildings will offer speculative space for delivery this fall, Core5 said.
At full build out by the end of 2019, the logistics center will be made up of five buildings totaling 2.5 million square feet, Core5 said. The company made the announcement last week.