{"id":1004509306,"date":"2021-02-05T07:15:55","date_gmt":"2021-02-05T15:15:55","guid":{"rendered":"http:\/\/internal.cpexecutive.com\/?p=1004509306"},"modified":"2021-05-15T10:04:24","modified_gmt":"2021-05-15T18:04:24","slug":"core5-industrial-partners-sells-portfolio-for-167m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/core5-industrial-partners-sells-portfolio-for-167m\/","title":{"rendered":"Core5 Industrial Partners Sells Portfolio for $167M"},"content":{"rendered":"
\"Core5<\/a>

Core5 Portfolio. Image courtesy of JLL Capital Markets<\/em><\/p><\/div>\n

Core5 Industrial Partners has sold a 2.2 million-square-foot portfolio of newly developed bulk distribution assets in a transaction valued at $166.7 million. With the assistance of JLL Capital Markets, the company sold the three net-leased assets, located in the high-demand Atlanta and Memphis, Tenn., markets, to Preylock Holdings.<\/p>\n

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READ ALSO<\/strong>: Net Lease Market Beats Expectations<\/a><\/p>\n

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The group of properties includes the Crossroads Business Center, a 1 million-square-foot property at 5705 Campbellton Fairburn Road in Union City, Ga. The Atlanta-area facility opened its doors in the third quarter of 2020, having been preleased in its entirety to Amazon in the second quarter with the assistance of JLL.<\/p>\n

The remaining two properties in the portfolio are part of Core5’s DeSoto 55 Logistics Center, a relatively new 173-acre park<\/a> in Horn Lake, Miss., roughly 20 miles south of Memphis. DeSoto A2 and DeSoto D, located at 1453 and 1615 Commerce Parkway, also opened in 2020 and encompass 328,400 and 860,900 square feet of premier space, respectively. The state-of-the-art Atlanta- and Memphis-area facilities boast locations in close proximity to, respectively, Hartsfield-Jackson Atlanta International Airport, the world’s busiest airport, and Memphis International Airport.<\/p>\n

Southeast industrial allure<\/strong><\/h2>\n

Buyers’ willingness to be aggressive in both price and transaction structure demonstrates the continued demand for core industrial product, Dennis Mitchell, senior managing director with JLL Capital Markets, said in a prepared statement. JLL Capital Markets’ Matt Wirth, Britton Burdette, Jim Freeman and Mitchell Townsend completed the team representing Core5 in the transaction.<\/p>\n

Investors find it hard to ignore that the industrial sectors of both Atlanta and Memphis are positioned for long-term success. The areas’ robust fundamentals serve as a strong attraction for investment<\/a>. Atlanta achieved record-high quarterly and annual net absorption in 2020, reaching 8.6 million in the final quarter and a whopping 22.3 million square feet for the year, according to a fourth quarter 2020 report by JLL. And in Memphis, the industrial market is growing at an unprecedented rate, with vacancy rates hovering below historical averages, at just 7.6 percent in the fourth quarter.<\/p>\n","protected":false},"excerpt":{"rendered":"

With the assistance of JLL Capital Markets, the company sold a collection of assets in metropolitan Atlanta and Memphis, Tenn. <\/p>\n","protected":false},"author":969,"featured_media":1004517837,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1489,21743,21808,21748,21783,21742],"tags":[33787,32914],"class_list":["post-1004509306","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-atlanta","category-deals","category-featured","category-industrial","category-investment","category-latest","tag-core5-industrial","tag-e-commerce"],"acf":[],"yoast_head":"\nCore5 Industrial Partners Sells Portfolio for $167M - 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\/core5-industrial-partners-sells-portfolio-for-167m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Core5 Industrial Partners Sells Portfolio for $167M\" \/>\n<meta property=\"og:description\" content=\"With the assistance of JLL Capital Markets, the company sold a collection of assets in metropolitan Atlanta and Memphis, Tenn.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/core5-industrial-partners-sells-portfolio-for-167m\/\" \/>\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=\"2021-02-05T15:15:55+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-05-15T18:04:24+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/04\/Core5-Portfolio.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Barbra Murray\" \/>\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\/core5-industrial-partners-sells-portfolio-for-167m\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/core5-industrial-partners-sells-portfolio-for-167m\/\",\"name\":\"Core5 Industrial Partners Sells Portfolio for $167M - 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