Speedway
Author: Diana Heeb Bivona
Developer Harsch Investment Properties is reporting that the second phase of the Speedway Commerce Center, which involves 523,000-sf has been cleared for occupancy and that 25% has been pre-leased. Additionally, leases for another 10% of the space is out for signature.
The $52-million second phase consists of eight new light buildings with 24- to 30-foot clear heights. The buildings, which range in size from 45,000 sf to 104,000 sf, have been divided into 80 units that have been finished with a 13% to 25% office build out.
Harsch purchased the industrial site in 2001 for $44 million. The deal included 1.4 million sf of built space that was 99% leased to 200 tenants and excess land for future phases.