Provident Industrial Acquires 2.5 MSF Portfolio

April 27, 2026

All 13 buildings are positioned in a major Southern logistics market.

Provident Industrial has acquired a 13-building, 2.5 million-square-foot industrial portfolio in the Memphis, Tenn., metropolitan area. Link Logistics formerly owned the properties, according to Yardi Matrix.

Properties that are part of Provident Industrial’s newly acquired 13-building, 2.5 million-square-foot industrial portfolio in the Memphis, Tenn., metropolitan area. — Provident Industrial has acquired a 13-building, 2.5 million-square-foot industrial portfolio in the Memphis, Tenn., metropolitan area. *Image courtesy of Provident*

The buyer stated that it intends to hold the portfolio as a long-term investment, in line with Provident’s strategy of focusing on assets in high-demand, supply-constrained markets. Provident highlighted Memphis’s position as an established distribution and logistics hub, a center for global intermodal traffic and home to one of the world’s busiest cargo airports.

This acquisition was led by Provident Industrial’s Case Van Lare, managing director, and Christopher Martin, market officer. Provident was represented by Newmark President, Global Head of Industrial & Logistics Capital Markets Jack Fraker and Senior Managing Director Ryan Bellows.

The specific properties are:

262 Marathon Way, Southaven, Miss.;
5838 Advantage Cove, Memphis;
3884 Crowfarn Drive, Memphis;
5950 and 6190 Freeport Ave., Memphis;
10400 Marina Drive, Olive Branch, Miss.;
5280 and 5400 Meltech Drive, Memphis; and
4800, 4901, 4903, 4905 and 4971 Southridge Blvd., Memphis

Provident Industrial is a division of Dallas-based real estate development and investment company Provident.

Months of move-ins ahead

The metro Memphis industrial space market is currently reaping the benefits of a surge in leasing velocity in the third and fourth quarters, according to a first-quarter report from JLL. As tenants gradually start moving into their new spaces through the rest of this year, overall vacancy is expected to decline further from its current 9.6 percent.

Better yet, JLL wrote, the 1.3 million square feet now in the construction pipeline is 100 percent preleased build-to-suit space.

In January, ElmTree Funds, which had been acquired by BlackRock last year, purchased an 863,176-square-foot warehouse in Olive Branch, Miss., in metro Memphis, from IDI Logistics for $73.2 million. The acquisition was financed through a line of credit with Trustmark Bank.