Tracy White, McDonald's senior vice president of marketing, tells GlobeSt.com the estimated development cost of the warehouse and a future expansion of 222,200 sf will be more than $20 million or in the $32-per-sf-plus range. When completed in October, the 401,000-sf warehouse will bring SouthPark's total inventory to about two million sf. White declined to disclose the park's occupancy level.
"If a user is found, we could quickly convert the structure to a build-to-suit facility," White says. Last year, McDonald converted a 226,200-sf speculative building under development at SouthPark to a build-to-suit for BrandsMart, an electronics retailer, as GlobeSt.com previously reported.
The 226,200-sf space can be expanded to 743,500 sf if BrandsMart needs the space, according to McDonald senior vice president Lathan Allen who negotiated the lease for his company. Fort Lauderdale, FL-based BrandsMart signed a 15-year lease at an estimated aggregate rent value of $15 million.
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