REBusinessOnline

CBRE Global Investors Acquires Two Industrial Properties Near Memphis Totaling 1.8 MSF

OLIVE BRANCH AND BYHALIA, MISS. — A fund sponsored by CBRE Global Investors has acquired two fully leased industrial properties in the metro Memphis area. The first property is located along Interstate 22 at 8331 Frontage Road in Olive Branch, about 15 miles from Memphis. The 815,050-square-foot building was built in 2018 and is fully leased through 2029 by a leading supplier of personal protective equipment. The cross-dock warehouse features 36-foot clear heights, 185-foot truck courts, …

SRS Brokers $8.4M Sale of Starkville Store Leased to Academy Sports + Outdoors

STARKVILLE, MISS. — SRS Real Estate Partners has arranged the $8.4 million sale of a 62,916-square-foot store in Starkville fully leased to Academy Sports + Outdoors. The sporting goods retailer recently signed a 15-year lease at the store with scheduled rent increases and options to extend. A private investor based in Southern California purchased the asset in 1031 exchange from the seller, a merchant real estate developer based in the Southeast. The store was built in 2017 at 160 Hollywood …

Hillwood to Develop 1 MSF Amazon Fulfillment Center in North Mississippi

OLIVE BRANCH, MISS. — Hillwood Investment Properties plans to build a 1 million-square-foot fulfillment center in Olive Branch, approximately 25 miles from Memphis, for e-commerce giant Amazon (NASDAQ: AMZN). The facility will house picking, packing and shipping operations for larger customer orders and create 500 new full-time jobs. According to The Clarion-Ledger, the new facility will be located within Hillwood’s Legacy Park, a 266-acre business park in DeSoto County. The Class A …

Mississippi State University, Greystar Open $67M Mixed-Use Development on Campus

STARKVILLE, MISS. — A public-private partnership between Mississippi State University (MSU) and Greystar has opened College View, 650-bed residential development on the university’s campus in Starkville. The mixed-use property features 46,000 square feet of retail space and a 7,000-square-foot addition to the MSU Child Development and Family Studies Center. Communal amenities include a fitness center, computer lab, study rooms, swimming pool, community lounge, volleyball court and fire …

Blue Magma Purchases Multifamily Communities in Memphis, Hattiesburg for $32.6M

HATTIESBURG, MISS. AND MEMPHIS, TENN. — Blue Magma Residential LLC has purchased Country Oaks Apartments in Memphis and Prosper Hattiesburg Apartments in Hattiesburg for a total of $32.6 million. Country Oaks is located at 6536 S. Country Oaks Circle in southeast Memphis. The property will be rebranded as The Park at Hollyford. Country Oaks was 98 percent occupied at the time of sale and the new ownership is planning to invest $2.6 million to renovate the interiors and exterior of the …

CBL Properties Sells Shopping Center in Mississippi for $31.8M

MADISON, MISS. — CBL Properties has sold The Forum at Grandview, a 216,000-square-foot retail center in Madison, for $31.8 million. Hendon Properties acquired the center in an all-cash deal. CBL developed the property in a 75-25 joint venture with Mattiace Development in 2010. CBL received all of the profits from the sale. Tenants at The Forum include Best Buy, Dick’s Sporting Goods, HomeGoods, Michaels, Stein Mart, Petco and Ulta Beauty. The property is situated along Grandview Boulevard, …

Twin River Worldwide Agrees to Acquire Two Casinos from Eldorado Resorts for $230M

LINCOLN, R.I. — Twin River Worldwide Holdings Inc. (NYSE: TRWH) has entered into an agreement to acquire Isle of Capri Casino Kansas City in Missouri and Lady Luck Casino Vicksburg in Mississippi for $230 million. Eldorado Resorts Inc. (Nasdaq: ERI) is the seller. Isle of Capri is located near downtown Kansas City, overlooking the Missouri River. The property offers 40,000 square feet of casino space, 939 gaming machines, 13 table games and two dining venues. Lady Luck Casino Vicksburg …

NKF Arranges Sale, Provides $25M Acquisition Loan for Multifamily Community in Metro Memphis

SOUTHAVEN, MISS. — Newmark Knight Frank (NKF) has arranged the sale of The Clare, a 352-unit multifamily community in Southaven. NKF also provided the buyer, ValCap Group, with a $25 million Freddie Mac acquisition loan. The Clare was constructed in 1997 and offers one-, two- and three-bedroom floor plans ranging from 723 to 1,120 square feet. Communal amenities include two swimming pools, a tennis court, volleyball court and a fitness center. The Clare, formerly known as Legacy at Church …

Cushman & Wakefield Arranges Sale of 697-Unit Multifamily Portfolio in Kentucky, Mississippi

SOUTHAVEN AND HORN LAKE, MISS. AND BOWLING GREEN, KY. — Cushman & Wakefield has arranged the sale of a three-property, 697-unit multifamily portfolio in Kentucky and Mississippi. The properties are the 240-unit Fairways at Hartland in Bowling Green, the 204-unit Savannah Creek in Southaven and the 253-unit The DeSoto in Horn Lake. Jimmy Adams, Robbie O’Bryan and Craig Collins of Cushman & Wakefield represented the seller, McDowell Properties, in the transaction. Covenant Capital …

Marcus & Millichap Brokers $7.5M Sale of Walmart-Anchored Shopping Center in Eastern Mississippi in Two Transactions

FULTON, MISS. — Marcus & Millichap has arranged the sale of a Walmart-anchored shopping center situated at 100 Interchange Drive in Fulton in two separate transactions. In the first deal, Bright-Fulton LP sold a 109,400-square-foot Walmart Supercenter to Bluejay Capital LLC, a private real estate investor based in New York, for $6.2 million. The property is triple-net leased to Walmart, which recently signed a new 10-year lease extension. On the same property, Bright-Fulton sold a …

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