Harsch Investment Properties is planning a $34 million expansion of its Henderson Commerce Center IV development at the southeast corner of Eastgate and Warm Spring roads. Plans call for five single-level double height buildings totaling 246,000 square feet. Construction is expected to begin in the first quarter with anticipated completion by December 2007.
Designed by Portland-based VLMK Engineers, the concrete tilt-wall buildings will offer a combination of light-industrial, flex-office and mid-bay distribution space. Lease rates have yet to be determined. Harsch’s Stacy Mbithi will handle the leasing. Buildings will range from 35,000 to 60,000 square feet in size, with 24-foot clear heights and grade-level and dock doors. Divisibility will be 750 to 15,000 square feet, with a parking ratio of 3:1,000.
Harsch purchased the 17.5-acre property in December 2001 for $7.69 million, or $4.20-per-square-foot, from the LandWell Co. Henderson Commerce Center IV currently consists of two buildings totaling 360,000 square feet. It’s currently 80% occupied with such tenants as Good Humor and Storage Barn, among others. Asking rents are 50 to 70 cents per-square-foot triple-net.
Future plans entail another 15-acre phase tentatively scheduled to break ground in late 2007. It will entail roughly 230,000 square feet office and retail space. Henderson Commerce Center IV is expected to reach build-out in late 2008 The 50-acre center, upon completion, will have 12 to 14 buildings totaling 836,000 square feet of commercial space.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment