Major Memphis industrial portfolio sale signals rebound in investor demand
The deal is a vote of confidence for the Memphis industrial real estate market, observers said.
There are 9 article(s) tagged Brian Califf:
The deal is a vote of confidence for the Memphis industrial real estate market, observers said.
A firm tied to an industrial electrical contracting firm and a prominent drag racing operator has bought a Southeast Memphis warehouse.
YH TN Brownsville LLC, a private investment company, bought the 55,356-square-foot building at 2714 Union Ave. Extended from Coastal Partners LLC for $5.5 million.
“Investors looking at Memphis from a distance will run the numbers, pull the crime stats, look at the demographics and sometimes walk away from deals that don’t fit a national template,” an executive with real estate firm NAI Saig Co. said about the Southeast Memphis shopping center.
Renovation plans include a new roof, parking lot repairs, LED lighting upgrades and interior renovation of vacant units.
A Denver-based Western-apparel company bought a Southeast Memphis property for its U.S. distribution center.
Faropoint just bought a 708,000-square-foot warehouse in Marshall County, and now owns 4.6 million square feet of industrial space in the Memphis area.
Israel-based Faropoint Ventures has just purchased six more Memphis industrial buildings totaling 545,000 square feet, and is looking for more.
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