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Partners Real Estate named exclusive leasing agents for Phase I
Schertz, TX, December 8, 2022 – Core5 Industrial Partners, in a joint venture with MBK Industrial Properties, announced that its Core5 Logistics Center at Interstate 10 Project — an industrial spec development in Schertz — has broken ground. The 1.8 million sq. ft. project is being developed in two-phases with Phase I expected to be completed by November 2023. Located at Interstate 10 and N Loop 1604 E, the project will provide much needed industrial space in Greater San Antonio’s most active submarket for logistics and warehousing operations. This project will be Core5’s and MBK’s first development in the San Antonio market.
“The San Antonio industrial market has proven to continuously attract an abundance of tenant interest, and with a vacancy rate at 3.5% we are excited to provide more space and opportunity to this bustling market,” said Liam Logan, Director of Investments of Core5 Industrial Partners. “This particular area of east San Antonio has proven to be a prime location for industrial development that appeals to logistic and warehouse operations, and we look forward to joining the submarket with this exciting industrial spec development.”
The site is strategically located on Interstate 10 and provides convenient access to Austin via TX-Toll 130, Houston via I-10, and Dallas via I-35. It is approximately 185 miles to the Mexico border and conveniently located to facilitate cross-broder shipments.
“We are excited to partner with Core5 on this opportunity. The San Antonio market has seen tremendous growth over the last few years, and we anticipate this trend to continue,” said Vijay Pandurangadu, MBK’s Vice President of Industrial Properties. “San Antonio’s growing labor market and convenient access drove our decision-making for MBK’s first project in Texas.”
Phase I, which has broken ground, will consist of two buildings totaling 1,000,080 square feet. Building A offers 533,520 sq. ft. of cross-dock capability, while Building B will offer 466,560 sq. ft. of single-loaded space, creating leasing opportunities for various large tenants.
Phase II will consist of two buildings totaling 788,940 square feet. Building C offers 400,140 sq. ft. of cross-dock capability, while Building D will offer 388,800 sq. ft. of single-loaded space, creating leasing opportunities for various large tenants.
Upon completion, the four-building park will feature 40’ clear height; ESFR fire protection; Clerestory windows for natural lighting; 54’ x 50’ column spacing; 185’ Truck courts for trailer parking or storage; ample dock positions and drive-in ramps; and significant on-site parking spaces and car parking with dedicated entrances.
Carlos Marquez and Brett Lum of Partners are the exclusive leasing agents for Core5 Logistics Center at Interstate 10. The buildings are being offered for lease and for sale.
About Core5 Industrial Partners Core5 Industrial Partners is an industrial real estate property company with expertise in development of Class-A properties featuring the latest innovations throughout the United States. Headquartered in Atlanta, Georgia, Core5 has development activity in Atlanta, Chicago, Cincinnati/Northern Kentucky, Columbus, Dallas, Houston, Indianapolis, Los Angeles/Inland Empire, Louisville, Memphis, Nashville, Pennsylvania, Phoenix, San Antonio and South New Jersey with expansion plans to additional key logistic hubs in the US. Founded in 2015, the company has developed or begun construction on 43 million square feet since inception. Immediate access to capital, coupled with the ability to financially support deals on their balance sheet without utilizing third party resources on most transactions, Core5 executes quickly without layers of bureaucratic, time-consuming processes. The company is privately held by 170-year-old Japanese-based Kajima Corp – one of the world’s largest A credit-rated construction companies with whom C5 leadership has sustained a 30+ year working relationship. Named for its five core principles, the company values are centered around a highly flexible entrepreneurial spirit promising follow through on commitments with an emphasis on relationships, excellence in quality, attention to detail and quick decision making. For more information on Core5 Industrial Partners, visit www.c5ip.com.
About MBK Industrial Properties and MBK Real Estate
MBK Industrial Properties (mbkindustrialproperties.com), a wholly owned subsidiary of MBK Real Estate, is an active investor and developer of industrial real estate for speculative and build-to-suit development projects across the US western markets and Texas. MBK Real Estate (mbk.com) is a leading developer and investor in senior living communities, multi-family residential and industrial real estate. Founded in 1990, MBK brings three decades of experience developing, acquiring and operating award-winning projects and providing outstanding standards of service. MBK Real Estate is a wholly owned subsidiary of Mitsui and Co. Ltd., a global Fortune 500 company.