The Northpointe Warehouse Distribution Center was completed last year and is currently for sale in the city of Covington, near New Orleans.
The roughly 70,000-square-foot warehouse/distribution center is located in the Northpointe Business Park off 1077 and I-12 and just across the street from a FedEx distribution center. For providing high-quality modern warehouse space in the busy commercial corridor, the project earned a 2024 CoStar Impact Award, as voted on by local judges with knowledge of the market. The completion of the property was important for the area, which had a dearth of similar available warehouse space.
The project received interest from local as well as national entities. However, the development overcame adversity after a pre-lease fell through when the prospective tenant backed out just as building permits were finalized as a result of economic obstacles, according to parties involved in the deal. However, with perseverance and creative financing, the developer found a way to complete this project.
About the Project: The Northpointe Warehouse Distribution Center has 60-foot column spans, which is rare in the local industrial market. The 68,400-square-foot building sits on just under five acres and is owned by K2 Realty.
What the Judges Said: "The project is significant because there is a high demand for large warehouse/distribution buildings in the area, especially near the busy I-12 corridor. Despite challenges like high construction costs and limited labor, the developer managed to complete the project through creative financing and strong supplier relations," said Eli Gunesebakan, Commercial Sales & Leasing, NAI Latter & Blum.
They Made it Happen: Kimberly Everett of K2 Realty is the owner and Jared Bowers of Barrister Construction was the project manager.