Construction is expected to begin this spring, and Anixter International will be able to begin consolidating operations in the new building before the end of the year.
The deal was hardly a surprise, considering ProLogis and Anixter had signed eight other deals before the build-to-suit deal. However, the building in the 50-acre ProLogis Park 294 will nearly eclipse the total space Anixter occupies in ProLogis properties in Charlotte; Cincinnati; Cranbury, NJ; Houston; the Miami area; Phoenix, Seattle and Washington, DC.
Although lease terms were not disclosed, ProLogis is asking $4 per sf at 5101 W. 122nd St., where half of the 123,986-sf building is available. However, competing space nearby is on the market for as high as $5.75 per sf.
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