Tech Distributor Takes 593,000 SF at Stateline

(Read more on the industrial market.)

SOUTHAVEN, MS-ScanSource Inc., a distributor of specialty technology products, has signed a 10-year lease for 593,000 sf of class A industrial space at Atlanta-based IDI’s 230-acre Stateline Business Park. The new lease is part of a relocation and expansion for ScanSource, which will be moving from a 366,393-sf facility at Memphis Distribution Center.

The start date for the ScanSource lease at Stateline is Oct. 1. The company will be taking space in the 740,844-sf Stateline Building F, one of two recently completed distribution centers in the IDI development.

Tim Moore, vice president of leasing in IDI’s Memphis office, tells GlobeSt.com that the other new facility, the 91,972-sf Stateline Building B, is on the market for lease as is the remaining space of Building F. Moore pegs occupancy at about 70% for the 2.7-million-sf Stateline Business Park, which IDI plans to build out to about 4.1 million sf, probably within two years.

Costs for developing Building B and Building F totaled about $30 million, according to a previous report on GlobeSt.com. The overall business park is a $120-million project.

The Stateline lease will provide ScanSource with additional warehouse space in a location that is closer to the Memphis International Airport and the company’s major freight carrier hubs, according to Andrea Meade, executive vice president of corporate operations at ScanSource. In its lease with IDI, ScanSource was represented by Wyatt Aiken and Jeb Fields with Commercial Advisors LLC, an affiliate of Cushman & Wakefield, with Moore representing IDI.

Terms of the ScanSource lease were not disclosed. Asking rates in Stateline Business Park vary from about $2.95 per sf to $3.50 per sf, triple-net, depending on the size and location of the space.

The Stateline park is situated near Interstate 55 in Mississippi and Memphis International Airport. The business park also is close to the BNSF, Union Pacific and CN/IC-CSX intermodal terminals.