Mississippi

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

by Alex Tostado May 15, 2019

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 30,000-square-foot retail strip center that was 69 percent occupied at the time of the sale to tenants including Cato, Rent-A-Center, Shoe Show and AT&T. SJ Trust and DJ Trust, private local investors, bought the center for $1.3 million. Don McMinn and Zach Taylor of Marcus & Millichap’s Taylor McMinn Retail Group represented the seller in both transactions. The seller divided the property during the sale into two separate parcels to “achieve 50 basis points better than market pricing for the entire shopping center,” says Taylor.

May 15, 2019

Alabama Georgia Loans Mississippi Multifamily Southeast

Eyzenberg & Co. Arranges $35.4M Refinancing Loan for Multifamily Portfolio in Southeast

by Alex Tostado April 11, 2019

NEW YORK CITY — Eyzenberg & Co. has arranged a $35.4 million refinancing loan for a three-property multifamily portfolio across the Southeast. The portfolio includes the 188-unit Park at Arlington in Covington, Ga.; the 232-unit Park at Brighton in Robinsonville, Miss.; and the 184-unit Park at Ashburn in Dothan, Ala. A joint venture between Blue Magma Residential LLC and NCP Enterprise Funds acquired the portfolio in December 2017. New York City-based Jeff Conti and Mila Babenko of Eyzenberg & Co. arranged the loan through Greystone on behalf of the borrowers.

April 11, 2019

Loans Mississippi Multifamily Southeast

Dougherty Mortgage Provides $20.7M Refinancing Loan for Apartment Community Near Memphis

by Alex Tostado April 5, 2019

OLIVE BRANCH, MISS. — Dougherty Mortgage LLC has provided a $20.7 million Fannie Mae refinancing loan for The Plantation Apartment Homes, a 336-unit community in Olive Branch. The 12-year loan features a 30-year amortization schedule. Plantation Apartment Group LP was the borrower. The Plantation Apartment Homes is situated about 24 miles southeast of downtown Memphis and offers community amenities such as a stocked fishing lake, swimming pool, fitness center, playground, two clubhouses and laundry facilities.

April 5, 2019

Development Mississippi Mixed-Use Southeast

Mattiace Development to Open Phase II of Mixed-Use Project Near Jackson, Mississippi

by Alex Tostado April 2, 2019

RIDGELAND, MISS. — Mattiace Development Co. is expecting a fall opening for Phase II of Colony Park, a mixed-use development in Ridgeland. The second phase includes Malco Theaters’ six-screen, 25,000-square-foot boutique movie theater and a water feature. Outside the Lines (OTL) will design and construct the water fountain, which will feature 62 nozzles that will shoot water 35 feet high, audio, lighting and effects for a concert-quality experience. Colony Park is situated at 1000 Highland Colony Parkway, about 12 miles north of downtown Jackson.

April 2, 2019

Acquisitions Industrial Mississippi Southeast

Sealy & Co. Acquires 1 MSF Distribution Building in Metro Memphis

by Alex Tostado March 25, 2019

OLIVE BRANCH, MISS. — Sealy & Co. has acquired a 1 million-square-foot distribution facility located at 7755 Polk Lane in Olive Branch, about 27 miles south of downtown Memphis and about 18 miles south of Memphis International Airport. The building is leased to Williams-Sonoma Inc. and is equipped with 66 loading docks, 36-foot clear heights and surface parking. Jason Gandy and Scott Sealy Jr. represented Sealy & Co. internally. Hank Martin of NAI Saig represented the seller, Tratt Properties, in the transaction. The sales price was not disclosed.

March 25, 2019

Acquisitions Industrial Mississippi Southeast

Core5 Industrial Partners Sells 581,475 SF Logistics Center in Metro Memphis

by Alex Tostado February 21, 2019

HORN LAKE, MISS. — Core5 Industrial Partners has sold the 581,474-square-foot Building A within Desoto 55 Logistics Center in Horn Lake. The business park sits on 173 acres about 18 miles south of Memphis. An undisclosed Fortune 500 company acquired the asset. The sales price was not disclosed. In addition, Core5 announced that Building B, a 300,145-square-foot facility, has been fully leased to DSV Solutions LLC and EPE Industries USA, which are both set to occupy the space this quarter. Three other buildings are planned within Desoto 55. At full build-out, the business park will span more than 2.5 million square feet. All three buildings are expected to be delivered by the end of this year.

February 21, 2019

Development Industrial Mississippi Southeast

IDI Logistics Begins Construction on New Building Within Stateline Business Park Near Memphis

by Alex Tostado January 30, 2019

SOUTHAVEN, MISS. — IDI Logistics has begun construction on Building G within Stateline Business Park, a 4 million-square-foot industrial park located in Southaven, less than a mile from the Mississippi-Tennessee border and about 13 miles south of Memphis. Building G will be a 352,800-square-foot, single-load facility that will feature 36-foot clear heights, 82 dock doors, two drive-in doors, a 185-foot truck court and 65 trailer parking spaces. The facility is expected to be delivered in June. Atlanta-based IDI Logistics began construction on Stateline Business Park in 2005.

January 30, 2019

Acquisitions Mississippi Multifamily Southeast

Majestic RV Resorts Acquires Beachfront Land Parcel in Biloxi, Plans Upscale RV Park

by Amy Works October 29, 2018

BILOXI, MISS. — Majestic RV Resorts has purchased 22.8 acres of beachfront property from Trustmark Bank for nearly $3 million. The buyer plans to develop an upscale RV park on the property, which is a vacant commercially zoned property. The property is located one block east of the Mississippi Coast Coliseum and adjacent to the former Broadwater Hotel. Sam Ford, an agent affiliated with Coldwell Banker Commercial Alfonso Realty, represented the seller. Marques Thomas with Biloxi-based Latitude Realty represented the buyer in the deal. Majestic RV Resorts has existing RV parks in Savannah, Ga., and Naples, Fla.

October 29, 2018

Development Industrial Leasing Activity Mississippi Southeast

Core5 Completes First Phase of 2.5 MSF Logistics Center in Metro Memphis

by Amy Works October 16, 2018

HORN LAKE, MISS. — Atlanta-based Core5 Industrial Partners has completed its first two inventory buildings at DeSoto 55 Logistics Center, a business park in Horn Lake, a Mississippi town within the greater Memphis market. Situated along the Interstate 55 corridor, the 175-acre business park will feature more than 2.5 million square feet of Class A space once fully developed. The first phase included Building A1, a 581,475-square-foot cross-dock facility that is expandable to more than 1 million square feet, and Building B, a 300,000-square-foot, rear-loading building. Core5 has preleased 200,000 square feet of space within Building B to DSV Solutions, a global provider of supply chain solutions to customers across multiple industries. DSV will utilize the entire 200,000 square feet of an existing client’s distribution facility serving the Eastern United States. Dan Wilkinson, Allen Wilkinson and Brad Kornegay of Colliers International represented Core5 in the lease transaction, as well as the entire development.

October 16, 2018

Acquisitions Mississippi Multifamily Southeast Student Housing

Vesper Acquires 792-Bed Student Housing Community Near University of Southern Mississippi

by Amy Works October 16, 2018

HATTIESBURG, MISS. — Vesper Holdings has acquired Vie at Hattiesburg, a 792-bed student housing community located near the University of Southern Mississippi campus in Hattiesburg. The property offers two- and four-bedroom units with bed-to-bath parity. Shared amenities include a clubhouse, swimming pool and poolside lounge with a TV, 24-hour fitness center, business center, computer lab, sand volleyball court and a private shuttle to campus. The community’s previous owner, whose name was undisclosed, recently completed a $2 million renovation that included upgrades to flooring, appliances, furniture, clubhouse and the fitness center. Vesper is planning to invest an additional $600,000 to further upgrade the amenities, enhance the property’s exteriors and make substantial technology upgrades throughout the complex.

October 16, 2018

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