(To read more on the industrial market, click here.)

SOUTHAVEN, MS-Stylecraft Home Collection is expanding its presence by leasing 251,053 sf in DeSoto Trade Center building 3, one of two spec structures that delivered last year. The tenant will move in on or around May 1 from a headquarters location in Hernando.

According to T. Preston Herold, vice president for Fort Worth-based Hillwood Investment Properties, Stylecraft wanted to relocate to a state-of-the-art, clear-height building, which prompted the long-term lease for the 552,106-sf spec at 4325 Executive Dr. He says other tenants are looking at the remaining space, but no letters of intent or contracts have been signed.

Preston tells GlobeSt.com that the asking rate is $2.95 per sf, triple net, with $3 per sf in tenant-improvement allowance. “They had a few more in TIs than the normal tenant would,” he says about the Stylecraft deal.

The 675-acre DeSoto Trade Center is located along Interstate 55 between Church and Star Landing roads. Herold says the office and industrial development at full build-out could have as much as 11 million sf. To date, more than three million sf of spec and build-to-suit space have come out, with 400 acres still left to develop. In addition to the balance of building 3, there is 260,000 sf open in the 301,053-sf building 4, also built last year along with a 865,120-sf build-to-suit for Switzerland-based logistics firm, Kuehne + Nagel.

Herold says dirt work has started on two sites for more spec space. “One will be large enough for 1.3 million sf and the other will be for a 330,000-sf building,” he adds. “Once we get closer to leasing up buildings 3 and 4, we’ll go vertical on those.”

Herold worked with Dan Wilkinson of Colliers Wilkinson Snowden in Memphis and Richard Burnette of the Burnette Co. in Hernando. The tenant had CFO Dan Shear bargaining its terms.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt Net Lease Spring 2024Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.