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, more than 168 trailer spaces and LED lighting. The second property is located at 291 Norfolk Southern Way in Byhalia, about 30 miles southeast of Memphis in Marshall County. The more than 1 million-square-foot building is situated within Gateway Global Logistics Center along Tenn. Highway 72, near the Interstate 269 interchange and the Norfolk Southern Memphis Regional Intermodal facility in Rossville, Tenn. Link Industrial Properties, Blackstone’s U.S. industrial real platform, sold the building, which is fully leased to a tire dealership through 2028. The cross-dock warehouse features 32-foot clear heights, 185-foot truck courts, more than 310 trailer spaces and LED lighting. The warehouse was completed in 2018. The seller of the Olive Branch asset and the sales prices of both assets were not disclosed.