December 2, 2019
A fund sponsored by CBRE Global Investors has acquired two fully-leased industrial properties in the Memphis metro area. The acquisitions are part of a broader strategy of the fund to invest in target industrial markets. The sellers were not disclosed.
The properties include 8331 Frontage Rd., a 815,050-square-foot building built in 2018 in Olive Branch, MS; and 291 Norfolk Southern Way, a 1 million-square-foot building built in 2018 in Marshall County, TN. Both properties are fully-leased through at least 2028.
“As e-commerce continues to dominate how we shop for goods in the U.S., the demand for high-quality industrial and logistics space will only continue to increase,” said Kim Hourihan, portfolio manager at CBRE Global Investors.
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