BlueOval key to 2023 industrial market success
The Memphis market ranked No. 9 in the nation.
There are 22 article(s) tagged industrial real estate:
The Memphis market ranked No. 9 in the nation.
Also, a longtime restaurant in Whitehaven is planning to improve its patio, as is Slider Inn on South Main Street, and a Wisconsin-based company has made its second — and third — acquisitions in the Memphis market.
The Memphis and Shelby County Land Use Control Board approved a rezoning request for a 52-acre property north of Stateline Road. It’s currently used as a residential site with horse stables, according to a staff report.
Distribution Realty Group plans to build three-warehouse, 2.3 million-square-foot distribution center at 5420 Tulane Road in South Memphis.
This week’s Inked covers news on Big River Market’s grand opening, June real estate figures, Jones Aur Commercial Real Estate’s new partnership and CBRE’s industrial market report.
This week’s Inked shares news on a proposed spec warehouse development on Clarke Road, a new HQ for Shapiro & Co. Architects and updates on Memphis’ job market recovery
Atlanta-based Robinson Weeks plans to build two warehouses in southeast Memphis, and Indianapolis-based Scannell Properties is set to build two warehouses in northeast Memphis.
This week’s Inked shares news on Olymbec USA’s growing South Memphis portfolio, updates at Minglewood Hall and Barksdale Flats at Overton Park sold for $5.75 million.
This week’s Inked includes news on a 234,360-square-foot spec warehouse being built in southeastern Memphis, a pending proposal to modify the Liberty Park site plan and a list of the 2022 Pinnacle Awards winners.
So far this year, a total of 10.1 million square feet of new or renewed leases of industrial space have been signed. That’s just 600,000 square feet short of the record-setting 2019, and it’s only July.
Laura Meanwell has worked as an engineer, led a successful campaign to change Germantown school hours, served on civic commissions, and even been a “director of euphoric events.” Now, she has a job that’s unusual for women in Memphis: Industrial real estate broker.
Last year was the second-strongest for for industrial real estate ever recorded by Cushman & Wakefield/Commercial Advisors. But in just the first three months of 2021, the net, new space absorbed by users has already reached 68% of last year’s total.
The first of five buildings at I-269 Logistics Center can be expanded to 1.74 million square feet.
Eight transactions for Class A industrial space, totaling 2.4 million square feet, have either been completed or are pending during the first three weeks of January, reports Cushman & Wakefield/Commercial Advisors.
Woodhill Real Estate bought a fully leased, 268,000-square-foot building at 5020 Tuggle Road, in Memphis’ vast Southeast industrial submarket.
When you add all the industrial space leased during 2020 and subtract the new vacancies, the Memphis area experienced a net positive absorption of more than 12 million square feet. The vacancy rate fell to 5%, and 12 million square feet of more space is under construction.
The Quebec-based Quint Group paid $8.75 million to Illinois-based Agracel Inc. for a 258,000-square-foot industrial building. Kemp Conrad, a principal with Cushman & Wakefield/Commercial Advisors, will represent Quint Group in leasing the building.
Completed in 2019 at 6200 Global as the city’s first spec warehouse in 11 years, the 421,000-square-foot, Class A facility quickly landed a tenant and has just sold for a second time. And, several other speculative logistics centers in Memphis are in the pipeline.
The industrial real estate firm Faropoint had acquired in 2016 five of the buildings it just sold, and bought the other 23 buildings in 2018. Faropoint still owns a substantial amount of industrial space in Memphis.
Six experts in Memphis commercial real estate will offer their take on what’s happening during the pandemic and their forecast on what the post-COVID era will be like.
Despite COVID-19, companies have absorbed more than 3 million square feet than they have vacated in the Memphis area during 2020.
The 217,000-square-foot, newly renovated warehouse at 4049 Willow Lake sold this week to EK Realty LLC.
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