Three months after its groundbreaking, Midway Logistics VI has leased more than 68,000 square feet to Home Depot.
The speculative industrial development is Magnus Development’s sixth in the Lexington County Industrial Park in West Columbia. Colliers International South Carolina’s Columbia industrial brokerage team of Chuck Salley, Dave Mathews, Thomas Beard and John Peebles represented Magnus in the lease of 68,040 square feet of space.
Home Depot also has a distribution center in the industrial park and will use the Midway Logistics VI space as a last-mile delivery location for e-commerce sales, according to a news release from Colliers.
“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,” Salley, vice president and director of industrial brokerage team, said in the release. “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.”
The 192,780-square-foot, Class A warehouse has 124,740 square feet remaining for lease. The building features a 32-foot clear height, high-capacity loading and enhanced trailer parking.
“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,” Kevin Werner, Magnus Development partner, said.
Magnus Development is a privately held, Columbia-based real estate developer.