AREA BUYS INDUSTRIAL PORTFOLIO FOR $23.5M

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MEMPHIS, TENN. — AREA Property Partners has purchased a four-property industrial portfolio in Memphis, totaling 834,708 square feet, from Kansas City Life Insurance Co. for $23.5 million. The properties are located at 4650 Quality Dr., 4481 Pleasant Hill, 4100 Quest Way and 3363 MIAC Cove. The portfolio includes cross-dock, rear-load and front-load warehouses that are fully leased to tenants including Cummins, McKesson and Krone. Stewart Calhoun, David Meline, Samir Idris and Casey Master of Cushman & Wakefield's Atlanta office, along with Dave Curran and Wyatt Aiken of Memphis-based Commercial Advisors, a Cushman & Wakefield Alliance Partner, represented the seller in the transaction. The buyer was self-represented.

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