Nice Valley Commerce Heart Constructing 1. Picture courtesy of MDH Companions
MDH Companions, of Atlanta, has acquired a 1.4 million-square-foot industrial portfolio consisting of two absolutely leased, newly accomplished Class A buildings, within the Atlanta and Memphis, Tenn., metro areas.
Senior Managing Director/Acquisitions Joe DeHaven served because the acquisition lead for MDH Companions. Dennis Mitchell of JLL represented the vendor, Core5 Industrial Companions.
Nice Valley Commerce Heart Constructing 1 is a 973,218-square-foot industrial facility within the Atlanta suburb of White, Ga. Nice Valley Commerce Heart is located on 68 acres at 200 Logistics Parkway Northeast, within the I-75 North submarket of Atlanta and near I-75 and U.S. 411.
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Accomplished in 2022, Constructing 1 options 500 parking areas, 220 trailer areas, 190-foot deep truck courts, ESFR sprinklers and 40-foot clear heights. It’s absolutely leased to supplies dealing with and logistics firm Vanderlande, the market’s largest OEM provider of logistics course of automation for airports. The tenant plans to consolidate a number of of its Atlanta-area services at this property.
Nice Valley Commerce Heart Constructing 1. Picture courtesy of MDH Companions
Desoto Logistics Heart is a 445,138-square-foot industrial constructing southeast of Memphis, in Olive Department, Miss. The 32.3-acre website is at 8150 Nail Street E. Desoto Logistics Heart too was delivered in 2022.
The property options cross-dock performance with 274 parking areas, 61 trailer areas, 185-foot truck courts, ESFR sprinklers and 36-foot clear heights. The situation is lower than one mile from Freeway 78, lower than 10 miles from I-269 and I-55, and near Memphis Worldwide Airport and the FedEx World Hub.
Desoto Logistics Heart is absolutely leased to Barrett Distribution Facilities, a third-party logistics and direct-to-consumer success service supplier.
Acquisition mode
Atlanta’s industrial market noticed 3.2 million sq. ft of absorption within the first quarter, which ended at an total emptiness of 4.5 %, in accordance with JLL analysis cited by MDH.
The Memphis industrial market noticed about 727,000 sq. ft of absorption within the first quarter, bringing the sector to five.8 % emptiness, in accordance with the identical supply.
Earlier this spring, MDH acquired Fort Value Logistics Hub Constructing 1, in Fort Value, Texas, from VanTrust Actual Property. The 670,914-square-foot industrial constructing offered for $67.5 million.
And in February, MDH picked up an industrial property in El Paso, Texas, earlier than its completion by developer NIT Industrial. Loop 375 Industrial is a 36-acre, roughly 555,000-square-foot campus on Joe Battle Street. Upon completion, the event will characteristic two rear-load warehouses and a bigger cross-dock facility.
