Gulf South will be taking 63,642 sf for five years at an estimated gross rent of $1.5 million at 8220 Troon Circle, the largest of the two buildings at 128,059 sf. Average asking distribution center rent in this submarket is in the $4-per-sf-range.
Snaring Gulf South in a difficult leasing period puts Oakmont in "a good position, with the building 50% leased prior to completion," says Oakmont vice president/leasing Mark Hawks. Hawks negotiated the lease for Oakmont.
Gulf South, with 900 employees and 13 national distribution centers, is part of the Jacksonville, FL-based PSS World Medical Inc. family, a $1.7 billion medical supply distributor. SouthTrust Bank is the construction lender. Randall Paulson Architects designed Riverside Logistics Center. The Conlan Co. is the general contractor.
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