The deal included a 25-acre land lease to allow for outdoor storage.
Logistics Property Company, LLC, a logistics real estate owner, developer, and manager, has leased approximately 550,000 square feet of warehouse space at Southern Star Logistics Park to a subsidiary of Specialty Building Products out of Duluth, GA. The full building lease includes 25 acres of adjacent outdoor storage land as well as dual rail service.
Logistics Property Company’s J.C. Hay, Vice President, Asset Management and Max Mueller, Vice President, South Region were supported by CBRE’s Kacy Jones, Steve Koldyke, and Brian Gilchrist in the leasing of the space. The tenant was represented by Jim Hazard and Barrett Bufkin of Cresa.
“We’re pleased to share news of the lease at Southern Star,” said Mueller. “The customer saw the same benefits of heavy power and rail service that led our team to develop on the site.”
The transaction included an execution with the property’s lender, Veritex Community Bank. The modification added loan proceeds, extended initial loan maturity, and welcomed a new, participant lender, American National Bank of Texas.
The remaining land at Southern Star Logistics Park offers build-to-suit capability for approximately 580,000 square feet. Learn more about this build-to-suit opportunity, here. Logistics Property Company has over 5.1M SF of industrial space in Dallas and Houston and has recently entered the Austin market with the announcement of 12821 Titanium Street, a two-building project totaling more than 400,000 SF.
About Logistics Property Co.
Logistics Property Company, LLC is a logistics real estate operating company and investment manager focused on the acquisition, development, and management of modern logistics properties in key North American markets. The company executes a disciplined investment strategy, ensuring optimal outcomes for our investors, employees, communities, and environment. Headquartered in Chicago, Logistics Property Company has more than 80 employees strategically located across eight markets. Its portfolio is comprised of 57 buildings across 23.9 million square feet with an estimated end value of more than $4.1 billion. For further information, please visit logisticspropco.com.
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