Pinnacle Warehousing purchases Airline Highway site for $1.8M

Pinnacle Warehousing LLC has purchased a site comprising about 7.75 developable acres on Airline Highway, adjoining Bayou Manchac, from Airline-Manchac LLC for $1.8 million, or about $5.40 per square foot. Brent Garrett with Beau Box Commercial Real Estate, who brokered the transaction, says the property is part of a planned unit development whose developers recently sold a 12-acre site to Area Tire Distributers, which is building a 125,000-square-foot warehouse distribution facility on-site. This purchase by Pinnacle will allow for an additional 80,000 square feet of space to be developed along the Airline Highway frontage. According to Garrett, Pinnacle has a build-to-suit contract for a portion of the potential 80,000 square feet but does not yet want to reveal who the tenant will be. Construction on the new warehouse distribution facility should begin early next year.