{"id":1004069326,"date":"2013-03-22T13:18:36","date_gmt":"2013-03-22T21:18:36","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=111333"},"modified":"2025-02-19T06:05:38","modified_gmt":"2025-02-19T14:05:38","slug":"entity-buys-class-a-warehouse-space-cushwake-affiliate-lands-2-5m-sf-management-contract","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/entity-buys-class-a-warehouse-space-cushwake-affiliate-lands-2-5m-sf-management-contract\/","title":{"rendered":"Entity Buys Class A Warehouse Space; CushWake Affiliate Lands 2.5M SF Management Contract"},"content":{"rendered":"<p><em>By Eliza Theiss, Associate Editor<\/em><\/p>\n<p>The industrial property market remains strong in the Memphis metro area, with industrial <a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/03\/q42012-leasing-by-submarket.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-111334\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/03\/q42012-leasing-by-submarket.jpg\" alt=\"\" width=\"300\" height=\"188\" \/><\/a>properties exchanging ownership on a weekly basis. According to a report by <a href=\"https:\/\/www.memphisdailynews.com\/news\/2013\/mar\/19\/digest\/#75586\"><em>The Memphis Daily News<\/em><\/a>, Tri State Industrial Portfolio LLC recently acquired two Class A warehouse properties for a combined purchasing price of $19.4 million.  The first asset, located at 6005 Freeport Avenue, has a warehouse surface of 547,216 square feet and sits on a 22.7-acre lot. Built in 200, the property was previously owned by Industrial CIC Owner LLC. The second asset, located at 3399 East Raines Rd., is composed of a 28.6-acre site with a 600,747-square-foot warehouse property and was sold by an entity identified as Industrial CP II Owner LLC. The properties, purchased in lieu of foreclosure, were valued by the Shelby County Assessor of Property at a combined worth of $29 million.<\/p>\n<p>In other industrial property news, the<a href=\"https:\/\/www.bizjournals.com\/memphis\/news\/2013\/03\/19\/cushman-wakefield-to-manage-exeter.html\" rel=\"nofollow\"><em> Memphis Business Journal<\/em><\/a> reported Cushman &amp; Wakefield\/Commercial Advisors Asset Services receiving the management contract for <a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/03\/Memphis-Oaks-Phase-II.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-111335\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/03\/Memphis-Oaks-Phase-II.jpg\" alt=\"\" width=\"239\" height=\"300\" \/><\/a>Exeter Property Group\u2019s latest acquisition, comprising of a four-property industrial portfolio. Totaling over 2.5 million square feet, the Class A assets were acquired from DCT Industrial. Three of the properties are fully leased to single tenants. Technicolor Inc. takes up  the 806,000-square-foot Memphis Oaks Phase II; AT&amp;T Cingular leases the 400,000-square-foot Southpoint; while Ozburn Hessey Logistics occupies the 300,000-square-foot  Distriplex farms.  The fourth property, the 1 million-square-foot Memphis Trade Center III is 74.1 percent leased to several tenants.<\/p>\n<p><em>Image of Memphis Oaks Phase II courtesy of Google Maps<\/em><\/p>\n<p><em>Chart courtesy of CBRE Memphis<\/em><\/p>\n<p><em> <\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The industrial property market remains strong in the Memphis metro area, with industrial properties being transactioned on a weekly basis.<\/p>\n","protected":false},"author":49,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742],"tags":[],"class_list":["post-1004069326","post","type-post","status-publish","format-standard","hentry","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Entity Buys Class A Warehouse Space; CushWake Affiliate Lands 2.5M SF Management Contract - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/entity-buys-class-a-warehouse-space-cushwake-affiliate-lands-2-5m-sf-management-contract\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Entity Buys Class A Warehouse Space; CushWake Affiliate Lands 2.5M SF Management Contract\" \/>\n<meta property=\"og:description\" content=\"The industrial property market remains strong in the Memphis metro area, with industrial properties being transactioned on a weekly basis.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/entity-buys-class-a-warehouse-space-cushwake-affiliate-lands-2-5m-sf-management-contract\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2013-03-22T21:18:36+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-02-19T14:05:38+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/03\/q42012-leasing-by-submarket.jpg\" \/>\n<meta name=\"author\" content=\"Eliza Theiss\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/entity-buys-class-a-warehouse-space-cushwake-affiliate-lands-2-5m-sf-management-contract\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/entity-buys-class-a-warehouse-space-cushwake-affiliate-lands-2-5m-sf-management-contract\\\/\"},\"author\":{\"name\":\"Eliza Theiss\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/de1353a5de72f96494054df3ecca7de4\"},\"headline\":\"Entity Buys Class A Warehouse Space; 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