Colliers International | South Carolina announces that Home Depot has signed a 68,040-square-foot lease at Midway Logistics VI, Magnus Development’s speculative industrial development under construction in Lexington County Industrial Park in West Columbia, SC.
Chuck Salley, SIOR, Dave Mathews, SIOR, Thomas Beard and John Peebles of Colliers’ Columbia industrial brokerage team represented Magnus Development in the transaction.
Home Depot, whose distribution center is also located in the park, needed to find additional space due to their rapid growth and demand for their products in 2020. It will use Midway Logistics VI as a last-mile delivery location for e-commerce sales.
“Home Depot brings the only tilt-wall, Class A building under construction in the Columbia industrial market to 35% pre-leased, demonstrating the need for additional availability in this product class,” said Salley, Vice President and Director of Industrial Brokerage Team. “Magnus Development has proven their ability to construct a building that delivers on time as seen with their other Midway Logistics developments, and that was attractive to Home Depot. Since there is currently zero vacancy in this product type in the market, we expect to have Midway Logistics VI completely leased when it is delivered in the second quarter of 2021.”
124,740 square feet remains for lease at Midway Logistics VI. The 192,780-square-foot Class A warehouse features a 32-foot clear height, high-capacity loading and enhanced trailer parking. The building has a smart, energy-efficient design with flexibility for users to accommodate as little as 34,020 square feet. The ESFR sprinkler system will allow tenants to maximize the cubic feet of storage space, and the motion sensor LED light fixtures provide daylight brightness in the warehouse with utility savings for the tenant.
“It was a pleasure working with Home Depot’s real estate team and we look forward to delivering this important project to them in June,” said Kevin Werner, Partner with Magnus Development.
Magnus Development Partners is a privately held, South Carolina-based real estate developer focused on delivering single tenant build-to-suits, spec industrial buildings and corporate advisory services throughout the Southeastern United States. With over 50 years’ experience in commercial real estate, Magnus founders have developed properties for some of the nation’s most recognizable companies including Home Depot, TreeHouse Foods, Starbucks, Domino’s Service Centers, Tractor Supply, Husqvarna and others.
Salley, Mathews, Beard and Peebles are the leading industrial brokerage team in central South Carolina, specializing in leasing, user sales and investment sales of industrial properties. Their multifaceted platform gives them a unique insight into market conditions for all types of industrial properties.
About Colliers International
Colliers International | South Carolina has over 150 staff members, including 65 licensed real estate professionals, covering the entire state with locations in Charleston, Columbia, Greenville and Spartanburg. Total 2019 brokerage volume exceeded $419 million, which included over 452 sales and leasing transactions. In addition to traditional commercial real estate representation services for our clients, the company is actively engaged in Corporate Solutions and Healthcare Services. Colliers International is an Accredited Management Organization (AMO) through the Institute of Real Estate Management (IREM) and is the largest manager of commercial real estate properties in South Carolina, with a portfolio of nearly 15.5 million square feet of office, industrial, retail and healthcare properties. Colliers International’s staff hold 44 professional designations, the most of any firm in South Carolina. Colliers | South Carolina’s partner, LCK, provides project management services for new facilities and renovations across South Carolina.
Colliers International (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. With operations in 68 countries, our more than 15,000 enterprising professionals work collaboratively to provide expert advice to maximize the value of property for real estate occupiers, owners and investors. In 2019, corporate revenues were more than $3.0 billion ($3.5 billion including affiliates), with $33 billion of assets under management in our investment management segment. Learn more about how we accelerate success at corporate.colliers.com, Twitter @Colliers or LinkedIn. Learn more about how we accelerate success at corporate.colliers.com, Twitter @Colliers or LinkedIn.