Major Memphis industrial portfolio sale signals rebound in investor demand
The deal is a vote of confidence for the Memphis industrial real estate market, observers said.
There are 23 article(s) tagged NAI Saig Co.:
The deal is a vote of confidence for the Memphis industrial real estate market, observers said.
A firm tied to an industrial electrical contracting firm and a prominent drag racing operator has bought a Southeast Memphis warehouse.
LBMC is already expanding at Clark Tower, and Southaven will get a little hotter and a lot colder with a Sweathouz location. And rent a business space at Crosstown Concourse.
YH TN Brownsville LLC, a private investment company, bought the 55,356-square-foot building at 2714 Union Ave. Extended from Coastal Partners LLC for $5.5 million.
Growlers, a locally owned and operated concert venue, occupies the building at 1911 Poplar Ave.
Caissa K12 grows at Clark Tower, the city starts building a golf clubhouse and a gutter services company opens its first Mid-South location.
“Investors looking at Memphis from a distance will run the numbers, pull the crime stats, look at the demographics and sometimes walk away from deals that don’t fit a national template,” an executive with real estate firm NAI Saig Co. said about the Southeast Memphis shopping center.
Renovation plans include a new roof, parking lot repairs, LED lighting upgrades and interior renovation of vacant units.
A Denver-based Western-apparel company bought a Southeast Memphis property for its U.S. distribution center.
The Collierville location will be the second Back Nine Golf planned for the Memphis area, and Herman expects to open another spot in Lakeland.
The new laundry will offer a washing, folding, pickup and delivery service.
The former Downtown Royal Furniture Co. building, which was slated to become a Dream Hotel and mixed-use development, was sold in a foreclosure sale to the lender of the project.
The group behind Amuse Adventure Museum and Memphis Escape Rooms is expanding its headquarters. And work is expected to start soon on new townhomes within Cooper-Young.
An inventory of available commercial spaces in Bartlett shows several significant spots open, some of which are on the verge of being occupied.
While owners of the vacant bays aggressively try and market the vacancies, Bartlett officials are trying to come up with a strategy to help with the effort.
Crown World this week followed through with its plans for Memphis after receiving a tax incentive in December. The firm has bought the long-empty office building at 2990 Airways and will establish operations there.
The firm buys a portfolio of seven retail strip centers, including four in the Memphis area.
The industrial real estate firm Faropoint had acquired in 2016 five of the buildings it just sold, and bought the other 23 buildings in 2018. Faropoint still owns a substantial amount of industrial space in Memphis.
Faropoint just bought a 708,000-square-foot warehouse in Marshall County, and now owns 4.6 million square feet of industrial space in the Memphis area.
Southwest Memphis' warehouses may be older and shorter, but a lot of logistics companies like their quick access to interstates and their affordability.
Israel-based Faropoint Ventures has just purchased six more Memphis industrial buildings totaling 545,000 square feet, and is looking for more.
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