Home improvement retailer Lowe’s Cos. is taking a big block of warehouse space in Mesquite for a new shipping hub.
Lowe’s is leasing 78,000 square feet in the Landmark at the Meadows business park on Meadows Boulevard near U.S. Highway 80. The distribution space will be used as an e-commerce fulfillment center.
Lowe’s is the first tenant in the 139,319-square-foot building developed by Florida-based Landmark Cos.
“Landmark Cos. continues to expand our commercial real estate portfolio nationally, developing assets well-positioned in growth markets to capture demand,” CEO Julia Baytler said in a statement. “The lease with Lowe’s validates our development thesis and reflects the strong demand for modern industrial facilities in Texas.”
The Landmark at the Meadows business park includes two buildings with more than 350,000 square feet. Jones Lang LaSalle’s Kurt Griffin and Nathan Orbin negotiated the lease for Lowe’s.
“The deal with Lowe’s is for a last mile fulfillment operation, which the home improvement retailer has been rolling out nationally,” Griffin said.
Mesquite has been one of the Dallas area’s fastest growing industrial markets with construction and building sales.
The Mesquite business park is one of two industrial projects Landmark Cos. has built in North Texas. The developer last year sold its Landmark at the Grove warehouse in Grand Prairie to Bridge Logistics Properties.
Landmark owns 3,000 apartment units and 1 million square feet of industrial developments. It is developing properties in Texas, Florida and Colorado.