MDH Partners today announces the acquisition of the two-building, 1,418,356-square-foot industrial portfolio across the Atlanta and Memphis markets. The 100% leased portfolio includes Desoto Logistics Center, a 445,138-square-foot industrial building located near Memphis, Tennessee, and Great Valley Commerce Center Building 1, a 973,218-square-foot industrial building located near Atlanta. Joe DeHaven served as the acquisition lead for MDH Partners. Dennis Mitchell with JLL represented the seller.
“We’re excited to expand our footprints in both Memphis and Atlanta, especially by way of adding newly constructed Class A buildings that are leased to two strong tenants,” said Joe DeHaven, Senior Managing Director at MDH Partners. “We are currently active across all major Sun Belt markets, and are particularly focused on acquiring well leased Class A buildings.”
Desoto Logistics Center is situated on 32.3 acres of land and located at 8150 Nail Road East in the Memphis industrial market. Delivered in 2022, the property features cross-dock functionality with 274 parking spaces, 61 trailer spaces, 185-foot truck courts, ESFR sprinkler systems and 36-foot clear heights. Desoto Logistics Center is ideally positioned in Olive Branch less than one mile from Hwy 78, and less than 10 miles from I-269 and I-55, providing excellent interstate connectivity. The property is in close proximity to the Memphis International Airport and the FedEx World Hub, representing 10.6% of the global delivery market.
Great Valley Commerce Center is situated on 68 acres of land and located at 200 Logistics Parkway Northeast in White, Georgia, a suburb of Atlanta. Also constructed in 2022, the property features 500 parking spaces, 220 trailer spaces, 190’ deep all-concrete truck courts, ESFR sprinkler systems and 40-foot clear heights. Great Valley Commerce Center is located in the I-75 North industrial submarket of Atlanta with close proximity to I-75 and US Highway 411, which provides convenient access to Atlanta and the region.
Desoto Logistics Center is fully leased to Barrett Distribution Centers, a third-party logistics and direct-to-consumer fulfillment service provider. Founded in 1941, the company operates more than 7 million square feet with 25 locations across the United States, including six locations in Memphis. Great Valley Commerce Center is fully leased to Vanderlande, a materials handling and logistics company specializing in flexible and scalable automated solutions for the e-commerce, retail and omnichannel markets. Vanderlande is the market’s largest OEM supplier of logistics process automation for airports and will consolidate several of their Atlanta-area facilities into Great Valley Commerce Center.
According to JLL, the Atlanta industrial market saw 3.2 million square feet of space absorbed in the first quarter of 2023 and at the end of the quarter, only 4.5% of the region’s industrial space remained vacant. The Memphis industrial market saw 727,237 square feet of space absorbed in the first quarter of 2023 and at the end of the quarter, only 5.8% of the region’s industrial space remained vacant.
MDH Partners has remained active this year, acquiring over two million square feet of industrial assets throughout the U.S. since January. The firm recently expanded its portfolio into new markets including California, Minnesota, Maryland, Indiana, Illinois and Pennsylvania, and currently owns more than 101 assets across 20 states.
About MDH Partners
MDH Partners is an Atlanta-based real estate investment company managing its discretionary funds targeting industrial real estate across the United States on behalf of its institutional investors. Founded in 2005 as the successor to a fifty-year-old local real estate development company, MDH Partners has led and/or participated in over $6 billion (80 million square feet) of acquisitions, developments, and asset management as an advisor and investor. For more information, visit www.mdhpartners.com.