Larry Nemer, owner and president of the Nemer Group, says the first 300,000-sf building is already completed. Now, the company has started construction on another 300,000-sf building.
He tells GlobeSt.com the asking lease price of the buildings is $5.50 per sf.
"We have Eagle Logistics and Geo Logistics in the first building," Nemer says, adding he hopes to have the second phase done by Oct. 1.
"Logistics mean we have to handle freight, and our proximity to the airport is important," Nemer says. "They time the stock from the time it gets off the plane to the site. These buildings are designed for that user, with 30-foot ceilings and docking doors."
Each building cost $14 million to build, he says, and both are located on 20 acres each.
His other project is larger -- a $125-million mixed-use project on 80 acres. The Vining Park project is supposed to have a hotel, multi-story office buildings, retail, research and flex office buildings. However, the plans haven't gone very far past the drawing board, Nemer says.
"We're still working on the conceptual site plans, and have spent time with the city on a development plan," he explains. "There's a couple reasons why we haven't started yet. First, the market just isn't mature enough yet, there's not much office in the area. Also, last year's economic problems held us off."
Now, the project should start moving forward since the Northwest Terminal is done.
"We're working on prospective deals for the offices and hotels," Nemer says.
He would not reveal the company to which he was referring. He adds the project should have 1 million sf of space when it is finished.
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