{"id":1004094354,"date":"2014-04-09T10:49:27","date_gmt":"2014-04-09T18:49:27","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=252105"},"modified":"2025-02-19T05:58:14","modified_gmt":"2025-02-19T13:58:14","slug":"exeter-affiliates-buy-43m-of-industrial-space-in-memphis","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/exeter-affiliates-buy-43m-of-industrial-space-in-memphis\/","title":{"rendered":"Exeter Affiliates Buy $43M of Industrial Space in Memphis"},"content":{"rendered":"

By Eliza Theiss, Associate Editor<\/em><\/p>\n

\"\"<\/a>The Memphis industrial market recently saw the $43 million sale of an industrial portfolio. According to The Memphis Daily News<\/em><\/a>, affiliates of Pennsylvania-based Exeter Property Group have picked up a three-property industrial portfolio from affiliates of Texas-based special servicer C-III Asset Management LLC.<\/p>\n

The buyer paid a total of $42.9 million in three special warranty deed transactions. The portfolio included the Memphis International Distribution Center at 4550 Swinnea Road, which fetched $10.1 million; a warehouse at 6005 Freeport Avenue, which sold for $14.8 million; and a warehouse at 3399 East Raines Road, which was bought for $18 million. A limited liability company identified as Exeter 6005 Freeport filed a $61.1 million loan through Bank of America to purchase the portfolio.<\/p>\n

According to real estate website PropertyShark.com<\/em>,<\/a> the 3399 E. Raines Road property was last purchased in July 2013 for a little over $8.9 million by Jpmcc 2007 Ldp 10, an entity that shares its address with C-III Asset Management. Built in 1995, the 605,539-square-foot property sits on 28.6 acres. PropertyShark<\/a> estimated its total market value at close to $17.15 million, while it put the value of 6005 Freeport Avenue at just short of $14 million. The latter was purchase by the same entity in July 2013 for $10.5 million. The 2000-built warehouse features 556,221 square feet of industrial space on a 22.7 acre site.<\/p>\n

The Memphis International Distribution Center, located at 4550 Swinnea Road, was purchased for $4.2 million July2013 by Jpmcc 2007-Ldp10-4550 Swinnea Rd LLC, an entity that also shares an address with C-III Asset Management. Built in 1998, the 344,016-square-foot warehouse is located on 16.5 acres. PropertyShark<\/a> estimated its total market value at a little over $10 million.<\/p>\n

Image via GoogleMaps<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The Memphis industrial market recently became red-hot with the $43 million sale of an industrial portfolio.<\/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":[1595,1815],"class_list":["post-1004094354","post","type-post","status-publish","format-standard","hentry","category-latest","tag-memphis","tag-national"],"acf":[],"yoast_head":"\nExeter Affiliates Buy $43M of Industrial Space in Memphis - 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\/exeter-affiliates-buy-43m-of-industrial-space-in-memphis\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Exeter Affiliates Buy $43M of Industrial Space in Memphis\" \/>\n<meta property=\"og:description\" content=\"The Memphis industrial market recently became red-hot with the $43 million sale of an industrial portfolio.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/exeter-affiliates-buy-43m-of-industrial-space-in-memphis\/\" \/>\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=\"2014-04-09T18:49:27+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-02-19T13:58:14+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/04\/4550-Swinnea-Road.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\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/exeter-affiliates-buy-43m-of-industrial-space-in-memphis\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/exeter-affiliates-buy-43m-of-industrial-space-in-memphis\/\",\"name\":\"Exeter Affiliates Buy $43M of Industrial Space in Memphis - 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