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Westmount Realty Capital Acquires Industrial Corporate Park in Memphis
Westmount Realty Capital has purchased of an infill industrial portfolio, Shelby Oaks Corporate Park, in Memphis, TN. It is the Dallas, TX-based company’s first purchase in Memphis and second in TN.
The 480,911-square-foot portfolio was built in several phases between 1979 – 2005 and is 95% leased to 78 tenants. The corporate park includes a total of 16 buildings ranging from 12,000 to 90,000 square feet.
Shelby Oaks is one mile from the I-240/I-40 interchange, 15-minutes from downtown Memphis and 20 minutes from the Memphis International Airport. It sits within a 640-acre wooded area.
“The Memphis industrial market is one of the strongest in the country as the city saw a record year in 2021 with leasing exceeding 32 million square feet, and annual net absorption was the highest recorded at 12.7 million square feet,” said Brant Brown, Westmount’s president and COO. “We plan to continue expanding our base in Memphis and the overall Southern US.”
- ◦Sale/Acquisition
