BlackRock, IDI Trade Industrial Asset for $73M

January 27, 2026

The warehouse is part of a 3.3 million-square-foot park.

ElmTree Funds, which BlackRock had acquired last year, has purchased an 863,176-square-foot warehouse in Olive Branch, Miss., within metro Memphis, Tenn., for $73.2 million, according to Yardi Matrix data. IDI Logistics sold the asset. The acquisition was financed through a line of credit with Trustmark Bank.

The property is within the Olive Branch Logistics Center, an industrial park that can accommodate up to 3.3 million square feet of space. ElmTree’s newly acquired property may be expanded up to 1.3 million square feet, which could make it the largest warehouse in the campus.

Dubbed Building D, the warehouse came online as part of the industrial delivery wave of 2022. One tenant inked a lease until 2034, yet that company has never occupied the space and was seeking to sublease the entire facility as of October 2025, according to DeSoto County.

Specifications include 40-foot clear heights, office space totaling 41,731 square feet, 164 dock doors and four drive-in doors, as well as a 185-foot truck court and parking arrangements for 205 trailers and 574 cars. The warehouse features a cross-dock layout.

Located at 7700 Nail Road E., the property is about 26 miles southeast of downtown Memphis. U.S. Route 78 runs within less than 2 miles. Memphis International Airport is about 15 miles away.

ElmTree aims to acquire industrial assets in primary and secondary U.S. markets, net-leased to single tenants for a minimum of 10 years. It usually closes deals from $20 to $150 million. It had $7.3 billion in total assets under management as of March 2025, prior to the BlackRock deal, which was announced in July.

Memphis’ affordable industrial assets

Metro Memphis saw the sale of nearly 6.4 million square feet during the first 11 months of 2025, according to Yardi Matrix data. Investment remained relatively consistent, with the amount of traded space ticking down just 1.5 percent year-over-year.

However, assets were considerably cheaper. The average price per square foot clocked in at $58.7 during the first 11 months of 2025, less than half of the national average, which according to a Yardi Matrix report stood at $134 per square foot. Industrial investment volume totaled $229 million in 2025 through November.

Rents were also relatively cheap, with the average rate clocking in at $4.30 per square foot in November, marking a 4.1 percent yearly growth. That was still half the national figure, which stood at $8.76.